Economists: The Federal Reserve (FED) will cut interest rates twice this year, with the timing in the second half.

Jin10 data April 29 - Melanie Baker, a senior economist at Royal Asset Management in London, stated in a report that she still expects the Federal Reserve (FED) to make two interest rate cuts in 2025, but not earlier than the second half of the year, when the economy is expected to show clearer signs of slowing down. She pointed out that the risk of recession has risen, and the economic growth outlook for both the global economy and the United States has deteriorated. However, she is still in the “economic slowdown” camp rather than the “economic recession” camp, due to the suspension of reciprocal tariffs and signs that Trump is responding to market pressures.