Powell: Will gradually cut interest rates based on data, expected to cut interest rates by 25BP twice this year

Jinshi data, October 1st news, Fed Chairman Powell still believes that the U.S. economy will achieve a soft landing. Powell said on Monday that the interest rate cut process will be further “adjusted” based on the upcoming economic data. He said, “By appropriately adjusting our policy stance, the labor market can maintain resilience in an environment where the economy is rising moderately and inflation continues to fall towards the target.” “Overall, the economy is in good condition; we intend to use our tools to maintain this condition.” Powell said that if the economy continues to develop along its current trajectory, he expects two 25 basis point interest rate cuts this year, while the market has been betting on a more aggressive rate cut cycle.