JPMorgan has revised its outlook as to when the Federal Reserve will cut interest rates. JPMorgan cited mounting uncertainty around President Donald Trump’s temporary Fed appointee, plus growing signs of weakness in the labor market.

JPMorgan Chase & Co.’s top U.S. economist now expects the Federal Reserve will cut interest rates three times in 2025, beginning with a 25-basis-point cut in September.

The top economist at JPMorgan Chase (JPM) now expects the U.S. Federal Reserve to cut interest rates three times in 2025, starting with a 25-basis-point reduction in September. Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.