J.P. Morgan: The Federal Reserve is expected to cut interest rates twice this year, possibly three times.

Jefferies global economist Mohit Kumar stated in a report that Jefferies continues to expect the Federal Reserve to cut interest rates twice by 25 basis points each this year. He said that Jefferies believes that due to the fading impact of tariffs and the Trump administration's focus on affordability issues, there is a downside risk to inflation in the second half of this year. The company also expects "growth to moderate." He said that this outlook could possibly mean three rate cuts instead of two. Data from the London Stock Exchange Group shows that the US money market currently reflects expectations of around a 60 basis point cut in interest rates this year.