Reuters poll: Most economists expect the Fed to cut interest rates by 25 basis points in September and cut rates twice more this year

A Reuters poll showed that most economists surveyed believed that the Federal Reserve would cut interest rates by 25 basis points at each of the remaining three policy meetings in 2024, and only nine of 101 economists expected the Fed to cut interest rates by 50 basis points next week. Stephen Stanley, chief U.S. economist at Santander Bank, said: "The employment report was weak, but it was not catastrophic. Last Friday, neither Williams nor Waller provided clear guidance on the pressing question of a 25 basis point cut versus a 50 basis point cut on September 18, but they both gave relatively benign assessments of the economy, which in my opinion strongly points to a 25 basis point cut." 65 of the 95 economists surveyed believe that after next week's meeting, the Federal Reserve will cut interest rates twice more this year, in November and December, by 25 basis points each. 55 of the 101 economists surveyed thought so last month. (Jinshi)