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NEW YORK (-) – The U.S. Federal Reserve may start decreasing rates of interest with a 50 basis-point reduce at its September coverage assembly in a bid to counter worsening financial and monetary situations from rising commerce tensions, Barclays’ high U.S. economist mentioned on Friday.
“As a end result, our outlook for U.S. financial and monetary situations has worsened, and we now anticipate the Fed to chop its coverage fee by 75 foundation factors this yr, starting with a 50 foundation level reduce in September,” Barclays’ chief U.S. economist Michael Gapen wrote in a analysis word. “Earlier motion just isn’t out of the query, in our view, if monetary situations deteriorate quickly.”
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