Economists at JP Morgan have changed their forecasts, believing that the Federal Reserve will begin to cut interest rates in December, reflecting the bank's judgment a week ago that policymakers would delay a rate cut until January of next year.
The research team led by the bank's chief U.S. economist, Michael Feroli, said on Wednesday that statements from several senior Federal Reserve officials (notably the President of the New York Fed, Williams) supporting a near-term rate cut prompted them to reassess the situation. JP Morgan currently expects the Federal Reserve to cut interest rates twice by 25 basis points in December and January of next year, respectively. (Jin Shi)