"We expect the Fed to begin cutting rates in September, and it could be justified cutting the Funds rate by 50 basis points," Rick Rieder said.
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Rieder's comment came after data showed U.S. labor market suffered a sizable slowdown in the past few months.
Rieder, a widely followed investor on Wall Street, said in a panel at the Future Proof Festival in Huntington Beach, Calif.. that…
Wall Street once again sees the possibility of a super-sized rate cut from the Federal Reserve next week.
The CME Group’s FedWatch tool shows a 66% chance that the Fed lowers its benchmark rate by 0.25 percentage point in September.
Don't hold your breath for a Federal Reserve interest rate cut this month.
Tuesday's inflation report for July has investors expecting the Federal Reserve will cut rates not once, not twice, but three…
