JPMorgan Chase: Whether the Fed will cut interest rates by another 50 basis points depends on employment data

Odaily Odaily News: JPMorgan Chase correctly predicted that the Federal Reserve would cut interest rates by 50 basis points this week, and the bank said that another large rate cut depends on whether the U.S. labor market weakens. The bank's chief U.S. economist Michael Feroli insisted that the Federal Reserve will cut interest rates by 50 basis points again in November, but he said his view depends on the results of the upcoming employment report. JPMorgan's interest rate strategists expect U.S. Treasuries to remain range-bound until the September jobs report provides direction. Analyst Jay Barry wrote: "The U.S. Treasury yield curve is likely to become more narrowly volatile in the coming weeks. Until we see the September jobs report, money markets are unlikely to reflect a faster pace of rate cuts or lower final interest rates." (Jinshi)