Forex – As investors await the Fed’s interest rate decision this month, Carl Weinberg of High Frequency Economics said a major rate cut is unlikely.
The Federal Open Market Committee (FOMC) is expected to begin cutting interest rates at its September 17-18 meeting, marking a shift from the post-pandemic policy tightening that has raised fears of a recession in the United States.
“We don’t see anything in the data that would trigger the Fed to panic and cut rates by 50 basis points,” Weinberg told CNBC, arguing that economics would welcome a 25 basis point cut instead.
“For the Fed to make a 50 basis point move, there would need to be a big increase in unemployment claims, evidence of more layoffs in the economy and a sharp decline in hiring, possibly all the way to zero,” Weinberg said.
https://www.cnbc.com/2024/09/06/chinas-wealthy-are-looking-overseas-for-business-investment.html
