UBS Expects 3 Interest Cuts From Fed This Year
UBS Expects 3 Interest Cuts From Fed This Year The Swiss UBS is differentiated from many institutions on the Fed’s interest path. According to the Bank, the US Federal Reserve may cut interest rates 3 times in 2020. Many other institutions do not expect any discounts from the Fed this year or predict a maximum discount.
Arend Kapteyn, Director of the Global Economic Research Unit of the Corporation, argued that additional tax tariffs on the Washington – Beijing line could pull annual growth to 0.5% in the first half of this year.
“We think additional tariffs will pull down US growth, which will trigger 3 interest rate cuts. The Fed will need additional evidence to reach this point. ” Kapteyn added that the effect of tariffs would be temporary and he did not expect a recession in the USA.