JPMorgan: Maintaining Bet on the Federal Reserve Cutting Interest Rates Twice.

Jefferies global economist Mohit Kumar confirmed its expectation that the Federal Reserve will cut interest rates twice after Fed Chair Kevin Wash's confirmation hearing on Tuesday. Kumar stated that Wash's support for rate cuts and balance sheet reduction aligns with market expectations. He said, "Our view remains that the Fed led by Kevin Wash will take a more dovish stance on rates." "We maintain our view that the Fed will cut rates twice, however we acknowledge that these cuts may not happen this year."