We each worked hard and met at the highest point

The brokerage team of Bank of America Securities stated in the report that the Fed's September interest rate cut is a foregone conclusion, but there is no need for a radical rate cut that would lead to an economic recession. The rise in unemployment rate in July was almost entirely due to temporary layoffs, indicating only temporary weakness. The employment rate may rebound and the unemployment rate may decrease in the August report. They said, 'Without layoffs, the United States would not have experienced an economic recession, and the layoff rate remains extremely low.' Bank of America believes that the interest rate cut cycle will begin in September, with quarterly cuts of 25 basis points until reaching a terminal interest rate of 3.25% -3.5% in mid-2026. 'Radical interest rate cuts of 50 basis points or more are carried out in emergency situations, and actions taken during the interval between meetings are also the same, but we have not yet reached that point.'. @ftyi @drunky