Payden & Rygel expects federal funds rate to approach 3% in the next 15 months

Investment management firm Payden & Rygel said the Fed's 25 or 50 basis points cut this week was just a minor divergence, according to ChainCatcher. Analysts point out that the key is that the current labor market is in a fragile equilibrium state and the balance collapse needs to be avoided. The company expects the federal funds rate to gradually approach 3% in the next 12-15 months, with the current target range set by the Federal Reserve at 4.25%-4.5%.