Barclays now expects the U.S. Federal Reserve to deliver two quarter-point interest rate cuts in June and September, the Wall Street brokerage said on Thursday, citing softer labor market conditions amid tariff uncertainty.

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Barclays has lowered its expectations; now, it thinks the Federal Reserve will cut interest rates twice this year instead of once. This is due to unclear trade policy and the weakening U.S. job market.

(Reuters) -Softer U.S. labor market conditions against the backdrop of trade-policy uncertainty have prompted Barclays to raise its expectations to two rate cuts by the Federal Reserve for the year from one.