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JPMorgan warns of possible market pullback as Fed cut looms

Wall Street has a new religion: the rate cut. But to receive its blessings — beefier market valuations, more robust lending activity, a stronger-ish economy — there must first be a sacrifice. It'll have to be the U.S. economy being sacrificed. Economic data has become the backbone of investors' macro predictions, with investors increasingly leaning on jobs and inflation data to predict whether the Fed will cut interest rates. Doing so would stand to bolster equities, already at all-time highs, and bring d ...