According to Odaily Planet Daily, Michael Feroli, chief US economist at JPMorgan Chase, said that Federal Reserve Chairman Powell's latest speech "reinforced expectations of further interest rate cuts, starting with the next meeting on October 28-29." Feroli pointed out that the market was already quite convinced that the Fed was inclined to loosen policy, but Powell's wording left almost no room for ambiguity. He said: "While there is almost no doubt that the Fed will cut interest rates at the next meeting, today's speech is a strong confirmation of this expectation." Powell's speech further strengthened investors' belief that the Fed is preparing to cut interest rates again after a series of weaker inflation and labor market data, thereby consolidating the market's bets on a rate cut at the end of October.