Main points from UBS on their outlook for the US Federal Reserve:
- policy pivot on the horizon, UBS base case is a September 25bp rate cut
Citing:
- UBS expect the US continues to head toward a soft economic landing
- economy has entered a period of below-trend growth, growth has slowed to a modest pace
- steadily rising unemployment rate is also consistent with below-trend growth
- see little evidence of an imminent hard landing
- broad disinflation is in place
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
