UBS: The first rate cut by the Federal Reserve may be in September, and the market underestimates the extent of the rate cut in this cycle

UBS economists reiterated their outlook for a soft landing for the U.S. economy on Monday, predicting that the Federal Reserve will begin cutting interest rates in September and that the market may have misjudged the extent of the Fed's future rate cuts. UBS pointed out that although economic data has experienced unusual fluctuations since the outbreak, certain trends now seem to have been established. (Jinshi)