-- State Street Global Advisors is bucking the recent hawkish shift in market consensus to bet that the Federal Reserve will cut interest rates by 50 basis points as soon as June.The $3.6 trillion asset manager thinks the Federal Reserve will front-run monetary easing ahead of the US presidential election in November. By the end of the year, the firm expects reductions to total 150 basis points — two and a half times what markets are currently pricing.
“There’s a compressed time horizon here,” she said. “Obviously the Fed will say they are not political but there will be a lot of scrutiny and they won’t want to be active in that window right around the election.” The declines are reducing a potential windfall for Trump who could sell his shares to raise money for his 2024 presidential campaign and legal expenses, although lock-up restrictions for six months could prevent him from selling or borrowing against his shareholding. Former U.S. President Trump - who owns about 78.75 million shares in the company - has seen a sharp slide in the valuation of his stake from around $6 billion last month.
An ex-GOP congressman blasts the 'populist wave' that he says has corroded conservatism: 'Now we're impeaching people like it's some kind of carnival'The former president has made a series of last-ditch efforts to stall his first of four criminal trials, including suing New York Justice Juan Merchan on MondayArriveCan contractor found in contempt of Parliament, ordered to appear before the...