Macquarie: The forecast for the first Fed rate cut has been brought forward from 2025 to December this year
Economists at Macquarie Group expect the Federal Reserve to begin easing monetary policy in December, rather than the first quarter of 2025, due to recent inflation declines. "Breadth indicators show clear improvements, which are favorable for inflation decline," economist David Doyle wrote on Tuesday when discussing the May CPI report. "This improvement, combined with more mixed signals in the labor market, prompts us to bring forward our basic scenario for FOMC easing policy." Macquarie currently expects a 25 basis point rate cut in the fourth quarter, specifically in December, compared to its previous forecast for the first quarter of 2025.
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