Analyst: Powell's speech reinforces the logic of a December rate cut

Odaily News Analysts at LHMeyer wrote that Fed Chairman Powell's speech provided little new information, but provided a clue to how the Fed is thinking about its December resolution. Powell stressed that the Fed will not react to the Trump administration's expected policies (which are believed to be likely to trigger inflation), but will focus on current data. This suggests that the Fed retains the freedom to continue cutting interest rates. Analysts believe that the Fed is most likely to cut interest rates by another 25 basis points next month. (Jinshi)