Institutions expect the Fed to cut interest rates by 50 basis points in September

According to Jinshi Data, the agency's chief U.S. economist said that housing will be the key driving force behind the decline in U.S. inflation. The Federal Reserve is expected to cut interest rates by 50 basis points in September.

With unemployment rising — it is expected to hit 4.5% this fall and possibly by October — the Fed will focus increasingly on the employment part of its dual mandate.