JPMorgan Chase now expects the Federal Reserve to initiate interest rate cuts in July

JPMorgan Chase economists have postponed their expected first rate cut by the Federal Reserve this cycle after the strong March employment data was released in the United States. They now expect the Federal Reserve to begin easing monetary policy in July instead of June. Michael Feroli, Chief US Economist at JPMorgan Chase, wrote in a report on Friday that slowing wage increases and stable employment growth demonstrate an improvement in the supply side of the labor market.