Lacking government data, former Federal Reserve Vice Chairman supports hawkish rate cuts

According to Odaily Planet Daily, the Federal Reserve is about to hold its FOMC meeting. Former Fed Vice Chair Lael Brainard stated in an interview that if she were to participate in the upcoming interest rate decision, she might opt for a hawkish rate cut. Brainard indicated that, given the lack of official data, she would refer to employment data from non-governmental sources such as ADP and Revelio Labs (both of which show a decline in US job creation). Given that the Fed does not want to see the economy enter a self-reinforcing downward spiral leading to more layoffs, she personally prefers one more rate cut, followed by maintaining the rate unchanged for a period, with a firm commitment to reducing inflation to 2% over the next two years—a so-called hawkish rate cut. She stated that for Americans, the primary issue is inflation and prices. (Jinshi)