Fed Chair Powell May Signal a Gradual Rate Cut Strategy
According to ChainCatcher, citing Jinshi News, PGIM Chief Global Economist Daleep Singh stated in a report that Federal Reserve Chair Jerome Powell may signal a more gradual rate cut strategy at the Jackson Hole meeting. Last week’s US CPI and PPI data showed that inflation in the US remains stubborn, staying above 3%. PGIM expects the Fed to cut rates by a total of 100 basis points by next year, which is about 50 basis points less than current market expectations.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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