More large cuts ahead if labor market continues to soften, says JPMorgan

Investing.com -- After the half-point rate cut announced Wednesday, the Federal Reserve could deliver more large cuts ahead should if the labor market continues to soften, JPMorgan strategists said.

The firm anticipates a 50 basis point cut at the next meeting in early November, contingent on additional softening in the upcoming jobs reports. During the press conference, Powell maintained an optimistic tone when discussing the economy and labor market, which JPMorgan strategists interpret as hawkish for future policy. They believe there are “good reasons for him to sound upbeat.”

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