BofA Predicts September Fed Rate Cut, but Advocates Against Aggressive Cuts
CryptoNewsTerminal Staff05 Aug, 2024
BofA Predicts September Fed Rate Cut, but Advocates Against Aggressive Cuts
Bank of America (BofA) analysts recently released a report stating that a rate cut by the Federal Reserve in September is highly likely. However, they caution against the Fed making aggressive cuts in interest rates. The report suggests that the weak payroll numbers reported in July were likely an anomaly, and that August's payroll numbers will show a strong rebound, with a potential decrease in the unemployment rate. Therefore, the BofA analysts believe that the Fed should not feel pressured to implement drastic rate cuts at this time.
