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‘Why would you tinker with it if it’s not broken?’: Economist on why the Fed may not cut rates in September

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'Why would you tinker with it if it's not broken?': Economist on why the Fed may not cut rates in September

Jerome Powell, chairman of the US Federal Reserve, during a Senate Banking, Housing, and Urban Affairs Committee hearing in Washington, DC, US, on Tuesday, July 9, 2024.

Bloomberg | Bloomberg | Getty Images

Markets now firmly expect a September interest rate cut in the U.S., but the Federal Reserve has a strong reason to hold off, according to economist Carl Weinberg.

Money market pricing for a rate cut at the Fed’s fall meeting rose from around…

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