The Federal Reserve may signal a rate cut in September this week
2024-07-29 14:00:44
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Economists surveyed by The Wall Street Journal expect consumer confidence and labor cost indicators released ahead of the rate decision to weaken, while the ADP data is expected to rise. Non-farm payrolls are expected to decline in July, which was released on Friday, and the unemployment rate will remain at 4.1%. The 10-year Treasury yield was 4.156%, close to a multi-month low hit earlier this month. The yield on the 2-year Treasury was 4.374%, falling back to levels last seen in early February. Treasury yields fell ahead of the Federal Reserve's interest rate decision. The Fed is expected to keep interest rates unchanged this time, while hinting that it may cut rates in September.
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