Maybe if you don’t have a recession, the Fed might cut once a quarter. If they see a recession, they will cut faster, but without a recession, they might cut once a quarter. But I don’t think the Fed will take rates all the way down to 2.5%. There’s no reason to do that.
Volatile yen draws intervention watch, other currencies subdued
In response to last week’s notable drop, currency markets have been closely monitoring the yen. Reports suggest that Japanese officials are conducting rate checks, hinting
September 21, 2026