June 20, 2019 / 2:57 PM / a month ago

Societe Generale sees Fed cutting U.S. rates in July, September

FILE PHOTO: The Federal Reserve building is pictured in Washington, DC, U.S., August 22, 2018. REUTERS/Chris Wattie/

NEW YORK (Reuters) - The U.S. Federal Reserve may lower lending rates by a quarter point in July and by the same increment in September on signs of slowing economic growth and risk from the trade conflict between China and the United States, Societe Generale said on Thursday.

“We still see a need for more aggressive rate cuts eventually as (signs) of U.S. economic weakness are more pronounced,” Stephen Gallagher, U.S. chief of economics at Societe Generale wrote in a research note.

Reporting by Richard Leong; Editing by Chizu Nomiyama

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