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ABN AMRO sees first Fed rate cut by September

2024-12-30FOREXLIVEFOREXLIVE
Cites disinflation and a weakening labour market are the reasons

ABN AMRO with some thoughts on the Fed:

  • Expected to cut rates starting in September 2024
  • Recent macro data indicate a cooling economy, with lower consumption as excess savings are depleted.
  • But believes household balance sheets and accommodative financial conditions are expected to provide a floor for economic activity, preventing a deeper recession.
  • Reasons for expecting cuts in September is continued disinflation, a normalizing labour market and evidence of an economic slowdown in the US.
  • Think as a result the Fed will cut rates more than what markets are currently anticipating

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