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<Research>CMBI Expects US Fed to Make 2 Rate Cuts This Yr in Face of Financial Mkt Turmoil, Long-term Recession Risk
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US retail sales growth rebounded in March due to tariff concerns, which led US consumers to snap up durable goods such as autos, home appliances and consumer electronics in advance, according to a research report released by CMBI. However, growth in home improvement & furnishings, gas stations and online shopping declined, suggesting that high interest rates and rebound in inflationary expectations continued to dampen demand for housing, travel and other non-essential expenditures. Total industrial output decreased on MoM basis in March, dragged down by a drop in utility output on warmer weather. CMBI believed that financial market turmoil and the long-term recession risk may drive the Fed to cut rates once in June or July and another rate cut in September or December, while the recent stagflation poses a dilemma for the Fed. AAStocks Financial News |
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