The chances of a Federal Reserve interest rate cut this year have dramatically i...
BENGALURU - The chances of a Federal Reserve interest rate cut this year have dramatically increased in the past month, according to a Reuters poll of economists who warned trade tensions will intensify and the risk of a U.S. recession has crept up.
The consensus in the June 7-12 poll of over 100 economists showed the Fed will hold interest rates steady at 2.25-2.50% this year and not cut rates until the third quarter next year - taking the fed funds rate to 2.00-2.25%. “I think there is certainly scope for them to cut rates. If not in June, July is still a strong possibility. But obviously...that it is going to depend on the economic data. If we start to see some strong numbers, it would push that out.”
“Trump is in an ebullient mood, talking up the resilience of the U.S. economy and its ability to withstand any negative fallout from trade tensions,” said James Knightley, chief international economist at ING.
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