JPMorgan Reverses Forecast, Now Expects Fed Rate Cut in December

JPMorgan economists now anticipate a Federal Reserve rate reduction in December, reversing their prediction from one week earlier that policymakers would delay action until January, Jin10 reports. The research team led by Michael Feroli, the bank's chief U.S. economist, cited supportive comments from senior Fed officials—particularly New York Fed President John Williams—favoring near-term easing as the catalyst for the November 27 reassessment. JPMorgan now projects two 25 basis point cuts, one in December and another in January.