Powell: Rate cuts will be gradual "over a period of time" and there is no need to rush
BlockBeats news, on October 1, Federal Reserve Chairman Powell said that the interest rate cut process will be carried out gradually "over a period of time" and there is no need to rush. (Jinshi)
Powell does not believe that the sharp interest rate cut indicates that a US recession is imminent, but rather that it is more of a preventive action aimed at maintaining the "robust" status quo of the economy and labor market.
Economists point out that the three most influential officials have formed a strong camp supporting interest rate cuts, which will be difficult to shake.