Wells Fargo: The Federal Reserve is expected to open the door to a rate cut this month
2024-07-22 15:47:37
Despite the political turmoil in the United States which has intensified investors have maintained that U.S. interest rates have increased this yeardesk3cryptocurrencydesktopCrypto News
Despite heightened political turmoil in the United States, investors remain adamant that U.S. interest rates will fall this year. The odds of the Federal Reserve staying put next week and cutting rates on Sept. 18 are both above 90 percent, according to CME Group, and the odds of a total of three rate cuts this year are close to 50 percent. That's little changed from before Biden dropped out of the race. Wells Fargo economists said in a note that they expect the Fed to keep policy on hold this month, opening the door for a rate cut. They added that the Fed's track record suggests it will not shy away from cutting rates at its last meeting before the election.
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