Mitsubishi UFJ: The Federal Reserve has not entered a rate cut sprint mode

ChainCatcher news, according to Jinshi reports, George Goncalves, the head of macro strategy at Mitsubishi UFJ in the U.S., stated that the Federal Reserve's decision is the most dovish statement, adding one rate cut in the dot plot expectations. He pointed out that the Federal Reserve has not entered a rate-cutting sprint mode but is restarting the rate-cutting process due to the labor market's performance being below expectations. This is also the reason for the muted response from risk assets. The Federal Reserve may cut rates by 25 basis points in both October and December, and a 50 basis point cut may not necessarily be beneficial for credit.