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Survey: About 80% of economists expect the Fed to only cut interest rates by 25 basis points in September

CointimeCointime2024/08/09 15:03
By:Cointime

The majority of economists surveyed by Bloomberg expect the Federal Reserve to only cut interest rates by 25 basis points in September. This is contrary to the calls from some large Wall Street banks for a significant rate cut at the next meeting. Nearly three-quarters of the survey participants expect the Fed to lower rates to a range of 5% to 5.25% at the meeting on September 17-18, while the rest of the economists surveyed expect a larger rate cut. The median forecast of economists also shows that there is only a 10% chance of the Fed making a rare adjustment to rates before the scheduled meeting. The consensus among economists is that the Fed will choose to cut rates by 25 basis points at the meetings in September, November, and December of this year, as well as in the first quarter of 2025. It is reported that these 51 economists were surveyed from August 6 to 8, when the global market was in a sell-off.

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