JPMorgan Chase Overturns One-Week-Old "No Rate Cut" Prediction, Anticipates Fed Rate Cut in December

BlockBeats News, November 27th: JPMorgan Chase economists have revised their forecast, believing that the Federal Reserve will start cutting interest rates in December, reversing the bank's previous prediction that policymakers would postpone the rate cut until January next year.

According to the bank's U.S. chief economist Michael Feroli and his research team, several heavyweight Fed officials (especially New York Fed President Williams) have expressed support for a near-term rate cut, leading them to reassess the situation. Currently, JPMorgan Chase expects the Fed to cut interest rates by 25 basis points in both December and January.