U.S.: The Betting Now Is For A Rate Cut

The snag: Solid domestic demand doesn't justify such a move

About-face! Economists' expectations for Federal Reserve policy have turned 180 degrees in recent weeks. A slew of analysts have not only downgraded their outlooks for economic growth, but they are also projecting that the Fed will cut interest rates some time between the Sept. 29 policy meeting and early next year. For most, the only questions left are "when" and "how much."

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