1053 ET - Fed officials are likely to pencil in only one interest rate cut this year, by a quarter of a percentage point, when then issue the updated economic projections next week, Wells Fargo economists write. The central bank is widely expected to keep rates on hold Wednesday. Wells Fargo thinks the post-meeting communication will indicate the monetary committee is in no hurry to cut. "We believe the FOMC will need to see more pronounced softening in the labor market," the economists write. They add, however, that economic softening is likely in coming months and the Fed could end the year trimming rates by three quarters of a percent. (paulo.trevisani@wsj.com; @ptrevisani)

(END) Dow Jones Newswires

June 12, 2025 10:53 ET (14:53 GMT)

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