UBS is calling for 3 Federal Reserve rate cuts this year. Yes, three!
CNBC spoke with the global head of economic research at UBS and came away with the bombshell call
Federal Open Market Committee could lower interest rates three times in 2020,
- tariffs implemented in the US-China trade war expected to drag down US growth to just 0.5% year-on-year in the first half of 2020
- "We think this tariff damage is going to push U.S. growth down ... that's actually going to trigger three Fed cuts, which is way off consensus, nobody believes that,"
And, the hedge:
- the impact from tariffs could just be temporary and that the US is not headed into a recession
More at that link, above