multiple institutions have reached a consensus on the expected rate cut by the Federal Reserve. Bank of America expects the Fed to cut rates by 25 basis points in October and is the only major brokerage firm predicting only one rate cut this year. Citigroup, Fidelity, JPMorgan, and others all predict a 25 basis point rate cut in October, followed by another 25 basis point cut in December. Goldman Sachs believes there is a high likelihood of a rate cut in December and predicts two rate cuts in 2026.
