June 13, 2019 / 3:53 PM / 3 months ago

Fed will make "insurance cut" in interest rates at next week's FOMC -Vanguard

June 13 (Reuters) - Vanguard’s global chief economist Joe Davis says the firm has increased its forecast of a U.S. recession in the next 12-18 months from 30% to 40% and believes the Federal Reserve will act boldly and implement an “insurance cut” in its target range for the federal funds rate as early as next week’s meeting. (Reporting By Jennifer Ablan Editing by Chizu Nomiyama)

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