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JPMorgan Chase overturned its "no rate cut" prediction from a week ago, expecting the Fed to cut rates in December.
On November 27, JPMorgan economists changed their forecast, believing the Fed will initiate interest rate cuts in December, reversing the bank's judgment from a week ago that policymakers would delay cuts until January. A research team led by the bank's Chief U.S. Economist Michael Feroli stated on Wednesday that several heavyweight Fed officials, particularly New York Fed President Williams, have expressed support for recent rate cuts, prompting them to reassess the situation. Currently, JPMorgan expects the Fed to make two cuts of 25 basis points each in December and January.