Analysts at Bank of America now project the Federal Reserve to cut interest rates twice this year, following a disappointing August jobs report. The firm projects a rate cut to come this month and in September, suggesting an additional 75 basis points of easing. “The shift in our view is motivated by both the softer labor data and Powell’s reaction function, as stated at Jackson Hole,” BofA wrote in a Friday note.
Friday’s jobs report was disappointing, as forecasts were not met. US unemplo