WASHINGTON—Economists are increasingly saying the Federal Reserve’s cycle of interest-rate increases is over—and that its next move will be a cut.

In a Wall Street Journal survey of economists this month, economists split roughly evenly over the direction of the Federal Reserve’s next interest-rate move, with 51% saying the next move would be a cut and 49% predicting a rate increase. That is up from 44% who said in the April survey that the Fed’s next move would be to lower rates and 19% in the March survey.

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