JPMorgan and Goldman Sachs expect the Federal Reserve's first rate cut to be in July

ChainCatcher news, major Wall Street banks currently have significant disagreements on the timing of the first interest rate cut. JPMorgan and Goldman Sachs expect the first cut to occur in July, while Wells Fargo is betting on September, and Bank of America predicts it won't happen until December. Meanwhile, some Federal Reserve policymakers have even suggested the possibility of raising rates instead of cutting them.

According to futures market data, Wall Street's best bet for the first rate cut is September, and the magnitude is not expected to be large. CME FedWatch data shows that the current probability of a Fed rate cut in September is about 44%.