WSJ survey shows greater chance of Fed rate cut in September

According to a recently conducted survey by The Wall Street Journal, economists see a 63.9% probability of a rate cut at the Federal Reserve's September meeting, compared to 49.8% seen in July's survey.

Meanwhile, the CME Group FedWatch Tool shows that markets are pricing an 85.8% probability of a 25 basis points rate cut in September and a 44.3% chance of a third rate cut in December.

Earlier today, US President Trump called upon the Fed to lower its policy rate, once again, in a Twitter thread. 

"The Fed’s high interest rate level, in comparison to other countries, is keeping the dollar high, making it more difficult for our great manufacturers," Trump said. "With substantial Fed cuts (there is no inflation) and no quantitative tightening, the dollar will make it possible for our companies to win against any competition."