The brokerage had earlier forecast one 25 basis point rate cut in December but said in a note on Thursday that the risks now point to an earlier move, followed by three more quarter-point cuts before the Fed pauses. “For Powell, the risk management considerations at the next meeting may go beyond balancing employment and inflation risks,” J.P.Morgan analyst Michael Feroli wrote. Trump on Thursday nominated Stephen Miran, Chair of the Council of Economic Advisers, to fill a temporary seat on the Fed Board, replacing outgoing Governor Adriana Kugler.
