USDCHF: Morgan Stanley: Fed will keep interest rates higher for

Ellen Zentner, chief U.S. economist at Morgan Stanley, said:

"The Fed will cut interest rates this year."
But "the Fed can be patient and take its time."
Morgan Stanley expects the Fed to cut interest rates for the first time at its June meeting.

The Fed will keep interest rates stable for longer than the market expects.
But if that happens, there will be more cuts than expected.
The first rate cut of 25 basis points will take effect in June.
Subsequent rate cuts are expected to occur by 25 basis points at meetings in September, November, and December.