J.P. Morgan Expects Fed to Raise Rates 25 Basis Points in December

According to J.P. Morgan's September 1 research report, the Federal Reserve is expected to raise rates by 25 basis points in December, lifting the federal funds rate to 3.75%-4.00%. The bank also projects the U.S. 10-year Treasury yield will reach 4.85% by year-end, with the yield curve continuing to steepen.
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