After Powell changed his tone, Morgan Stanley expects the Federal Reserve to cut interest rates in September
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Morgan Stanley expects the Federal Reserve to cut interest rates by 25 basis points in September, as Powell changed his tone at the Jackson Hole meeting, emphasizing risks in the labor market. Previously, the market generally believed that the Federal Reserve would keep interest rates unchanged until March 2026. The brokerage also predicts another rate cut in December and quarterly cuts in 2026, with a terminal rate target range of 2.75%-3.0%
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