Stock market bulls eagerly await the Fed’s promise of September rate cut
The rate is likely to be unchanged at the Fed’s meeting this week, which is aimed at preparing the ground for a cut in September
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WHEN the Federal Reserve meets this week, expect the US central bank to build a case for an interest rate cut to take place in September.
Fed chairman Jerome Powell has mastered the modern art of the pivot, going from a sternly hawkish tone for almost two years to a resolutely dovish tone in recent months.
On Wednesday (Jul 31), at the end of the Fed’s two-day meeting, he is likely to pivot yet again. Instead of screeching like a hawk or cooing like a dove, he may well cluck like a proud hen watching her chick make a soft landing.
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