Institutions: Fed to start first cut in September, another in December
July 31, PGIM chief U.S. economist Bocelli said the U.S. attention has shifted from inflation to labor market easing due to the cyclical hiring slowdown over the past few months, which has allowed the Federal Reserve to begin cutting rates in September. The Fed is expected to announce a September rate cut at its meeting this evening. Another rate cut could come at the December meeting, and the possibility of a November rate cut should not be overlooked. By the end of 2025, the Fed is expected to have cut rates by a cumulative total of about 150 basis points.
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