Odaily Planet Daily News: Wells Fargo expects the Federal Reserve to cut interest rates five times by 25 basis points each time before mid-2026. The bank expects to cut interest rates in the next three meetings, bringing the rate to 3.50%-3.75% by the end of the year, and then cut interest rates twice more in March and June 2026, lowering the range to 3.00%-3.25%. This outlook reflects the weak labor market, with average employment increasing by only 29,000 in August and the unemployment rate rising to 4.3%. Inflation remains a challenge, with core PCE growing by 2.9% year-on-year, but Wells Fargo noted that inflation expectations remain stable. The bank raised the probability of a U.S. recession next year to 35%, but expects stronger economic growth in the next few years, with GDP growth expected to reach 2.4% in 2026 as fiscal stimulus and interest rate cuts take effect. (Jinshi)