The Federal Reserve will begin a crucial pivot this week, lowering interest rates for the first time in more than four years as it pursues a rare soft landing for the US economy.
With inflation seemingly under control and weakness showing in the US labor market, officials are widely expected to drop their benchmark lending rate by at least a quarter percentage point when they wrap up a two-day gathering on Wednesday. In financial markets, some traders — and economists at JPMorgan Chase & Co., the largest US bank — are even preparing for a larger, half-point move.
Source: Bloomberg
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