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The Fed is close to cutting rates – NAB

2019-06-24 14:45

Tony Kelly, Senior Economist – International, Group Economics at National Australia Bank (NAB) believes that the US Federal Reserve (Fed) is preparing to cut the interest rates as soon as next month.



Key Quotes:



“Trade disputes continue to cast a shadow over the US economic outlook.



While recent data suggest some upside risk to our Q2 GDP forecast, business surveys point to a slowing economy.



The Fed is getting ready to cut rates; we expect two 25bp reductions in the federal funds rate, with July and September now the most likely dates.



There is considerable event risk around these projections – including the upcoming meeting between the US and Chinese Presidents.



Risks still appear slanted towards the Fed making more rather than fewer cuts."


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