Odaily News Macquarie Group economists expect the Federal Reserve to begin easing monetary policy in December — rather than in the first quarter of 2025 — thanks to a recent retreat in inflation. "Breadth indicators show clear improvement, favoring lower inflation," economist David Doyle wrote on Tuesday of the May CPI report. "This improvement, combined with more mixed signals from the labor market, prompts us to bring forward our base case forecast for FOMC easing." Macquarie now expects a 25 basis point rate cut in the fourth quarter, or in December to be exact; it had previously expected it to be in the first quarter of 2025. (Financial Times)