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UBS lowered its Fed funds forecast today: now...>

FED
FED: UBS lowered its Fed funds forecast today: now looking for 25bps cuts in
Sep, Dec and Mar, and no further alteration of balance sheet plans. The Fed will
ease further, UBS says, due to a slowdown in US growth and "their fears of
increased uncertainty".
- Previously: UBS had expected a 50bps one-and-done cut at the July FOMC, and
post-meeting said that the 25bps cut that the Fed ended up delivering would be
the only easing.

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