A snippet from the Morgan Stanley Federal Reserve Federal Open Market Committee (FOMC) preview.
MS cite 'considerable progress on inflation' will allow the Federal Reserve to inch closer to rate cuts. Morgan Stanley are expecting three cuts this year, beginning at the September FOMC meeting.
MS are expecting Powell to indicate that the Fed is nearing a decision to lower rates at his press conference. Says Powell fall short of specifying a timeline for cuts. Powell should emphasize increased confidence.
The FOMC meet on the 30th and 31st:
- statement due at 1400 US Eastern time (1800 GMT)
- Federal Reserve Chair Powell's press conference follows a half hour later
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