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

Odaily Odaily News: A Reuters survey shows that most economists surveyed believe that the Federal Reserve will cut interest rates by 25 basis points at each of the remaining three policy meetings in 2024, and only nine of the 101 economists expect the Fed to cut interest rates by 50 basis points next week. Stephen Stanley, chief U.S. economist at Santander Bank, said: "Although the employment report is weak, it is not catastrophic. Last Friday, neither Williams nor Waller provided clear guidance on the pressing issue of a 25 basis point cut and a 50 basis point cut on September 18, but they both made 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 last month thought so. (Jinshi)