There is a lot riding for Wall Street as the Fed meets this week.
This report is from today's CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Like what you see? You can subscribetopped estimates. Retail sales grew better than expected at 5.5%, while industrial output rose 7%, above the 5% forecast. But the country's ailing property sector continues to remain weak.
"Our baseline remains that the first-rate cut will come in June and the Fed will deliver 100bps of reductions this year. However, risks are clearly skewed to more hawkish outcomes. The timing and pace of rate cuts could well be irregular this cycle and will likely be highly data dependent." Investors will also want to know whether the Fed will continue to pencil in three rate cuts for this year. Some economists argue there's a good chance it could be pared back to only two."You can always cut it quickly and dramatically. Their credibility is a little bit at stake here," he said."I would even wait past June and let it all sort it out."
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