Peter Schiff: The market is now counting on a rate cut in September, and Powell has no reason not to deliver

Odaily News As the market's expectations for the Fed to cut interest rates next month are getting higher and higher, the Fed is likely to deliver on that expectation. Wall Street tycoon Peter Schiff said that we will see a rate cut in September, mainly because the market is now counting on a September rate cut. This is why US stocks rebounded after the sell-off on Monday! Since the market has already priced in the possibility of a September rate cut, there is no reason for Powell not to deliver. He always meets market expectations and he doesn't want to cause surprises in the market. (Jinshi)