The Fed has been 'shaken' from its path by a softening labor market, and will deliver steeper rate cuts as a result, JPMorgan says
Federal Reserve Bank Chair Jerome Powell
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- The Fed is shifting from its gradualist stance on rate cuts amid uncertain labor market data, JPMorgan says.
- While the uncertainty makes rate cuts clear in the near term, it widens possibilities for next year.
- JPMorgan expects 100 basis points of rate cuts by the end of the year.
The Federal Reserve is being forced to shift from its gradualist stance on rate cuts by the weakening of the US labor market, JPMorgan says.
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