JPMorgan and Bank of America no longer expect the Fed to cut interest rates by 50 basis points in November

BlockBeats news, October 4, JPMorgan Chase and Bank of America currently expect the Fed to cut interest rates by 25bp when it meets again in November. They had previously called for a 50bp cut, but labor market data showed that the US economy is resilient.

JPMorgan Chase Chief US Economist Michael Feroli and Bank of America Economist Aditya Bhave both pointed out that Friday's employment report was the reason for them to adjust their expectations for the Fed's easing policy path. Considering the Fed's 50 basis point rate cut in September, they believe that the solid job market is the reason for the Fed to take a more cautious approach. (Jinshi)