JPMorgan and Goldman Sachs Expect Fed’s First Interest Rate Cut in July

• The Federal Reserve is expected to keep the interest rate unchanged after the FOMC meeting.
• JPMorgan and Goldman Sachs believe the Fed will reduce interest rates in July.
• While Wells Fargo hopes that the Fed will cut rates in September, Bank of America posits that no reduction will happen until December.

The Federal Reserve is expected to hold the interest rate unchanged at the two-decade high of 5.25% to 5.5% after the Federal Open Market Committee (FOMC) meeting. While the two-day meeting began on Tuesday, market observers divided over the views on the Fed’s decision on Wednesday.

Chinese crypto journalist Coil Wu shared an X post on Wu Blockchain, shedding light on the diverse forecasts from major industry players. Notably, financial giants JPMorgan and Goldman Sachs expect the Fed’s first interest rate reduction this year in July. At the same time, the financial services company Wells Fargo believes that the Fed will cut rates in September.

CNN: JPMorgan and Goldman Sachs expect the first cut in July, while Wells Fargo is betting on September. Bank of America doesn’t expect the first cut until December. Some Fed policymakers, meanwhile, have eve…

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