Barclays on the FOMC - 25bp cut in July, more to come by end of 2019
Scanning through some of the late week info from via banks, this via Barclays, in brief:
- Powell's testimony was dovish, surprisingly so
- Increases confidence on 25 bp cut to come this month
- two more 25bp cuts to come by the end of the year
No surprise from Barclays on the July forecast, this is consensus. A further 50bps to come by year end is a bit of an eyebrow raiser though.