State Street Predicts Fed Rate Cut in June Despite Strong Data

State Street Global Advisors is predicting the Fed will cut interest rates in June, despite recent economic data that contradicts this
They believe the Fed wants to avoid appearing to influence the November presidential election
State Street thinks inflation backdrop still supports a rate cut
They have tempered original prediction of 150 basis points of cuts this year to 100 basis points
State Street believes recent strong economic data is low quality and shouldn't deter Fed from cutting rates