Confidence rises that Fed will cut rates

Six out of 10 corporate economists predict the Federal Reserve will cut interest rates next month. As reported on industry website CFO Dive, accounting firm Wolters Kluwer says 64% of corporate economists from major firms also predict inflation will rise in the near term but will drop to 2.3% by the end of the year. A report released Aug. 11 that found inflation isn’t rising as fast as expected raised hopes that the Fed will lower interest rates for the first time since last December. A recent analysis by Charles Schwab says the Fed, at its last meeting, “appeared to open the door for a potential rate cut later in the year.”