JPMorgan Chase, Bank of America, Wells Fargo and Citi Predict Abrupt Fed Rate Cuts Amid Global Market Turbulence

The four largest banks in the US now believe the Federal Reserve is about to cut interest rates amid rising recession fears. A Bank of America economist says a September Fed rate cut is a “virtual lock” following last week’s $6.4 trillion global stock market rout, reports Business Times. “The rate tide has quickly turned.”  […] source: https://dailyhodl.com/2024/08/12/jpmorgan-chase-bank-of-america-wells-fargo-and-citi-predict-abrupt-fed-rate-cuts-amid-global-market-turbulence-report/