Barclays and Rabobank turn to predicting that the Fed will cut interest rates in September.

[Barclays and FNB shift to predicting the Fed will cut rates in September] Barclays and FNB expect the Fed to cut rates by 25 basis points in September, citing a shift in Fed Chair Powell's attitude towards the rising risks in the job market during the Jackson Hole meeting. Barclays now expects two rate cuts of 25 basis points in September and December this year, stating that Powell's remarks introduced a "dovish tendency," raising the threshold for not cutting rates. FNB has also changed its long-held view of the Fed staying put, predicting rate cuts in both September and December. "Powell has clearly indicated that the Fed intends to make a 'tweaking' rate cut in September, unless the data suggests otherwise."