The vast majority of economists surveyed by Bloomberg expect the Fed to cut rates by just 25 basis points in September, contradicting calls from some of Wall Street's biggest banks for a big cut at their next meeting. Nearly four-fifths of survey participants expect the Fed to cut rates to a range of 5-5.25 per cent at its September 17-18 meeting, with most remaining economists expecting a sharper cut. The median forecast also showed a 10 per cent chance of the Fed making a rare move before its scheduled meeting. The consensus among economists is that the Fed will choose to cut interest rates by 25 basis points at its meetings in September, November and December this year, as well as in Quarter 1 2025. The 51 economists are understood to have been surveyed on August 6-8, when global markets were in the midst of a sell-off.