A new poll by Reuters indicates that a majority of economists think that the Federal Reserve will make two cuts to the benchmark interest rate this year, starting in September:
“While both federal funds futures contracts and economists see a very low chance of rates remaining unchanged through year-end, economists are now more convinced the Fed will wait until September than they were about a month ago.
“Nearly two-thirds of economists surveyed, 70 of 108, predicted the first reduction in the fed funds rate in September, to a 5.00%-5.25% range. Those results, from the May 7-13 poll, compared with just over half expecting a September cut when they were surveyed last month.”
To read the whole Reuters article about the survey, please click HERE.