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Bank of America CEO Moynihan has urged Federal Reserve policymakers to be measured in how much they cut rates. Moynihan said the Fed moved "too late" to raise borrowing costs in 2022 and now they have to make sure they don't go too far in cutting rates. He expects the Fed to cut rates by another 50 basis points before the end of the year and then four more times in 2025 by 25 basis points each, at which point the end point rate will reach 3.25%. He expects inflation to be...
Bond traders are again betting that Federal Reserve policymakers are more likely to cut rates by 50 basis points than by 25 basis points at this week's meeting. Swap contracts tied to the Fed's interest rate decision show a more than 50% chance of a 50 basis point cut this week, compared with last week when traders all but ruled it out. That pushed the two-year U.S. yield back to its lowest level in two years and dragged the dollar index to its lowest level since January...
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