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Market Snapshot: The Fed may break a lot of stock-market investors’ hearts next week

The first cut is the deepest.

Clamoring for a rate cut—the first in more than a decade—by the Federal Reserve at some point this year is running hot.

A survey by the Wall Street Journal earlier in the week signaled that nearly 40% of economists (paywall) polled by the publication expect the U.S. central bank to ease monetary policy next month.

The chief economist Joe Davis of Vanguard, the fund provider that manages some $5.4 trillion of wealth, speculated that an “insurance” rate cut by Jerome Powell’s Fed could arrive as early as Wednesday, at the conclusion of the central bank’s two-day policy gathering that kicks off June 18.

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