ANZ Research made a change to its Fed's rate call. ANZ now expects the Fed to cut rates at the FOMC meeting this month and again in December.
"A 25bps rate cut from the FOMC at its September meeting looks a sure thing, amid escalating trade tensions and further cracks in global growth. We now expect the FOMC to cut by a further 25bps again before year’s end. The risks are for more easing than we anticipate," ANZ notes.
"The Fed’s future monetary policy path remains highly uncertain. Indeed, as Fed Chair Powell indicated at Jackson Hole, there are no precedents to guide policy in response to this challenging geopolitical environment," ANZ adds.