JPMorgan Chase & Co.’s top U.S. economist now expects the Federal Reserve will cut interest rates three times in 2025, beginning with a 25-basis-point cut in September.

Stephen Miran has also questioned the Fed’s institutional legitimacy, highlighting how policy debates have evolved into broader disagreements.

A top official at the Federal Reserve is saying that this month’s stunning, weaker-than-expected report on the U.S. job market is strengthening her belief that interest rates should be lower