Morgan Stanley are forecasting lower GDP growth for the US due to the negative impact of tarifss and a tight labor market resulting in higher inflation:
2025 GDP growth projections lowered to 1.5%, slashed from 1.9% previously forecast2026 to 1.2%, from 1.3%Morgan Stanley expect only one more 25bp rate cut from the Federal Open Market Committee (FOMC) in 2025, in JuneMorgan Stanley add that they expect two more rate cuts from 2026, later than the market expectsGoldman Sachs:
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