Front page of the Financial Times - Fed to cut rates
Expectations are the Fed will be cutting by 25 basis points.
The FT reflecting those expectation on its front page.
The Federal Open Market Committee announcement is due July 31.
Expectations of a 50bp cut were raised by comments from New York Fed branch head John Williams last week, you may recall these during the US session Thursday:
There have been convoluted arguments that it was all a cunning plan from Williams to soften us up for a 50bp cut. I am taking the Occam's Razor approach and saying, nope, he messed up. The RBA did something similar in 2017, these central bankers are not all powerful oracles (is this news to anyone?)
25bps it will be. Wednesday July 31 for the announcement, still a good way off.