The market is pricing in a 100% chance of a 50 basis point Fed rate cut in September with another 50 bps in November and a decent chance of 50 bps more in December.
The market wants a rescue but I don’t see how Goolsbee could be the messenger. In all likelihood, he will say the same things he said on Friday.
This article was written by Adam Button at www.forexlive.com.
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