Be cautious! Strong non-farm data may keep the Federal Reserve "on hold"
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Top economist Jeremy Siegel warned that the Federal Reserve may unexpectedly keep interest rates unchanged at the upcoming meeting next week, despite the market generally expecting a 25 basis point rate cut. He pointed out that if the non-farm payroll data released on Friday is strong, it may change the expectations for a rate cut. Siegel expects the Fed to cut rates three to four more times in the easing cycle, but long-term rates may remain at relatively high levels. The market expects third-quarter GDP growth to be 3.3%
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