Business
Frontpage of Financial Times
Expectations are that the Fed will cut by 25 basis points.
FT reflects these expectations on the front page.
Federal Open Market Committee's announcement is due July 31st.
Expectations of a 50bp cut were raised by comments from New York Fed department head John Williams last week; officials:
USD was taken on tour, first down on his introductory comments, and then back up again on disavowal.
There have been intricate arguments that there was all a good plan from Williams to soften us up for a 50bp cut. I take Occam's Razor approach and say, no, he beat up. The RBA did something similar in 201[ads1]7, these central banks are not all powerful oracles (is this news for everyone?)
25bps it will be. Wednesday July 31 for the announcement, still a good way.
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