J.P. Morgan has revised its forecast for Federal Reserve interest rate cuts in 2025, now expecting three 25 basis point reductions beginning in September, earlier than its prior prediction of a single cut in December. This adjustment is attributed to emerging signs of weakness in the U.S. labor market and uncertainty surrounding President Donald Trump's recent Federal Reserve nomination. The investment bank anticipates that the Federal Reserve will lower rates to 3.5% following these cuts. The change in outlook also follows the appointment of a new Fed official, Miran, which influenced J.P. Morgan's updated rate cut timeline.