Powell did not change his tone, and the market is preparing for interest rate cuts

ChainCatcher news, according to Jinshi reports, Peter Cardillo, Chief Market Economist at Spartan Capital Securities, stated that Powell did not change his tone. Although he pointed out that the economic fundamentals are solid, he also mentioned the existence of weakness. He prepared the market for a series of rate cuts, expecting a 25 basis point cut at the end of this month, after which the Federal Reserve will assess the situation. If the labor market continues to weaken, a 50 basis point cut may occur in December. He hopes the market does not view rate cuts as a certainty.