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Economists Expect the Fed to Cut Interest Rates. Markets Already Have.

The Federal Reserve will announce its decision on interest rate policy tomorrow. After raising rates throughout all of 2018, markets now anticipate the Fed to reverse course and begin cutting rates – if not at tomorrow’s meeting then very likely in July. Expectations for economic growth in the remainder of 2019 have moderated, and interest rates throughout the economy have already fallen substantially as a result. While the direction of Fed policy is extremely important, in many respects markets have been well ahead of the Fed this year.

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