Fed likely to hold steady, but September rate cut hopes hinge on data: Seth R Freeman
employment rates
. So, there is a possibility, the Fed is certainly getting a lot of pressure from the administration, but the chairman has been quite clear that that they are characteristically looking at data and so it may be a little too early. It kind of depends how things look here in the US right after Labour Day," says
Seth R Freeman
, GlassRatner Advisory.
Tell us there are a lot of cues to watch out for as far as Wall Street is concerned, we have a lot of earnings coming out. We also have the important FOMC meet. Now, most of us are expecting the rates to be held steady and the Fed has conveyed this in no uncertain terms despite the pressure coming in from the Trump government. But it is really the commentary that we will be watching out for the hopes of a rate cut perhaps in the month of September. Is that on the cards? Is that talk going to be on the table?
Seth R Freeman:
Well, that the situation may be, the viewpoint may change now that the deal has been struck with the EU and this concern about what the real effect of tariffs would be here on the
US economy
. The other aspect that the Fed is looking at is employment rates. So, there is a possibility, the Fed is certainly getting a lot of pressure from the administration, but the chairman has been quite clear that that they are characteristically looking at data and so it may be a little too early. It kind of depends how things look here in the US right after Labour Day.
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Let us also talk about the IT sector if you could. Now in the US all these major tech companies including the likes of Meta, Microsoft, Amazon they are going to report their earnings this week. So, first up, what is your expectation there and also if you could help us with your stance on the
Indian IT sector
given the kind of slowdown that we have seen and we are also hearing about workforce cutting, the announcements coming in from TCS. So, what kind of impact do you see from the
AI spending
going up?
Seth R Freeman:
Well, at the end of last week, Google was indicating that its business is very robust and really starting to get some payback from AI and there has been a concern that AI would and the fact that you can do searching for example and you get an AI result that maybe you do not have to dig around for different links and that is going to hurt advertising revenue. But I am actually expecting the earnings announcements to be fairly positive across the sector. Certainly, investors think it is going to be positive because look at the gains we have had in the S&P 500 and the Nasdaq. So, it is positive. It is actually very much related to enthusiasm for AI and the efficiencies coming from AI.
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