Wall Street has ramped up forecasts on how much the Federal Reserve will cut interest rates after the disappointing July jobs report raised fears of a recession... argument for an unscheduled cut.
Michael Feroli of JPMorgan expects the Fed to cut rates by 50 basis points at its September meeting, again in November, then by 25 points at each subsequent meeting... scenarios for even more aggressive action.
Feroli suggests there's a strong case to act before September 18th due to risk management concerns, though Powell may opt for a quieter approach amidst eventful times.
Market volatility has been influenced by U.S. election developments, shifting from the 'Trump trade' to other factors after the first presidential debate and recent political events.
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