UBS: The Fed will cut in September
UBS economists on Monday reaffirmed their outlook for a soft landing for the US economy, expecting the Federal Reserve to begin cutting interest rates in September.
Moreover, retail sales and inflation are also showing signs of moderation. In May, core CPI, which excludes food and energy prices, rose by just 0.16% month-over-month, marking the smallest increase since August 2021. In terms of monetary policy, the Fed kept the rates unchanged at its June meeting, aligning with market expectations.
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