According to Odaily Planet Daily, Julien Lafarge, chief market strategist at Barclays Private Bank, said that the Federal Reserve is expected to open the door to its first interest rate cut in September. Since the market has already digested expectations of a rate cut of slightly more than 25 basis points in September, the Federal Reserve may find it difficult to reverse these expectations.
The Fed is expected to maintain its data-dependent narrative while acknowledging that the data has been moving in the right direction, which could justify easing monetary policy in the coming months.