UBS strategists anticipate that further Federal Reserve rate cuts will support US economic growth, despite mixed sentiment in business and consumer surveys. Recent labor market data shows unexpected strength, with wage growth remaining above pre-pandemic levels, while inflation is gradually moderating, expected to decline to 2.1% in September. The Fed may implement 25-basis-point cuts in upcoming meetings, but a potential skip this year could still align with a broader neutral policy stance by 2025.