Jeffery: The Federal Reserve intends to cut interest rates but needs employment data to "give the green light"
According to online reports, the market is almost unanimous that the Federal Reserve will keep the benchmark interest rate unchanged at 4.25% to 4.5% today, but after that, the market is divided on the policy path. Mohit Kumar, chief economist at Jefferies, said: "In our view, the Fed intends to cut interest rates from current levels, but it still needs signs of slowing in employment data to give the green light." Once the employment data shows signs of weakness, they will start cutting interest rates."
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