JP Morgan: Fed's 50bp rate cut in September is the "right thing to do"
Morgan Stanley's Chief US Economist Michael Feroli stated that US consumers have been the engine driving economic growth in recent quarters, but slowing income growth may hinder consumer spending growth. Currently, policies are restrictive, the downside risks to employment are increasing, and the upside risks to inflation are diminishing. Therefore, they still believe that it is the right move for the Federal Reserve to cut interest rates by 50 basis points at the September meeting
On September 9th, according to data from FXStreet, Michael Feroli, Chief U.S. Economist at Morgan Stanley, stated that U.S. consumers have been the engine driving economic growth in recent quarters. However, the slowdown in income growth may hinder the growth of consumer spending. Currently, policies are restrictive, with increasing downside risks to employment and decreasing upside risks to inflation. Therefore, they still believe that it is the right decision for the Federal Reserve to cut interest rates by 50 basis points at the September meeting