Here's what major Wall Street economists believe the Federal Reserve will do
"We expect the FOMC to cut the fed funds rate and the interest rate on excess reserves by 25bps, in line with consensus market expectation," Credit Suisse said.
Federal Reserve Board Chairman Jerome Powell speaks during his news conference after a Federal Open Market Committee meeting in Washington, December 19, 2018.It might be the worst kept secret leading up a to a Federal Reserve Meeting. Most major Wall Street economists believe the Fed will announce a rate cut at the end of its two-day monthly meeting on Wednesday afternoon.to cut.
"We expect the Fed to cut rates by 25bp and guide toward additional cuts to sustain the recovery," Bank of America said. All indications are that it will be a quarter-point cut but Goldman Sachs economists led by Jan Hatzius aren't ruling out a half point cut either.
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