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Fed to cut rates at the July meeting – Danske Bank

Danske Bank analysts note that yesterday Fed officials revealed further their preferences on how to support the US economy.

Key Quotes

“Jerome Powell told a Paris audience that the Fed is “carefully monitoring” downside risks to U.S. growth and “will act as appropriate to sustain the expansion”, echoing his Congressional testimony.”

“Chicago President Charles Evans predicted two reductions this year based on the need to lift inflation, although also saying it might not be enough. Dallas chief Robert Kaplan said a “tactical” cut might be warranted, but one should be enough. We are predicting the Fed will cut rates three times this fall, starting with a cut at the July meeting.”

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