Michael Feroli, JPMorgan's chief U.S. economist, was one of the only forecasters on Wall Street who accurately predicted the Federal Reserve's half-point rate cut on Wednesday, and he sees the same thing happening again.
Almost all of his peers expected the Fed to ease rates by a quarter point, with some noting that a surprise uptick in core consumer inflation last month would prevent central bankers from going with a jumbo-sized cut. Others on Wall Street warned that a bigger move would signal that the economy is in worse shape and needs extra help.
