The Federal Reserve held its interest rate-setting meeting last week, marking the first such gathering under its new chair, Warsh. Current market pricing indicates expectations for two rate hikes by the Fed by April of next year.
UBS views this market expectation as overly aggressive.
Ulrike Hoffmann-Burchardi, Chief Investment Officer for the Americas at UBS, stated in a client report on Tuesday, "We continue to expect the Fed's next move will be a rate cut, although that is not anticipated until 2027."
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