Odaily星球日报讯 美联储卡什卡利表示，对在下次会议上降息持开放态度，因为就业市场过度疲软的可能性越来越大。（金十）

美联储卡什卡利：对在下次会议上降息持开放态度

Odaily Odaily News: Kashkari of the Federal Reserve said that he is open to cutting interest rates at the next meeting because the possibility of excessive weakness in the job market is increasing. (Jinshi)

Fed's Kashkari: Open to rate cut at next meeting

Odaily Planet Daily Report: Wall Street is betting that Federal Reserve Chairman Powell will confirm at the Jackson Hole annual meeting that the Federal Reserve is about to cut interest rates. But as the focus shifts from "whether to cut interest rates" to "how much the interest rate will be cut," stock traders may be disappointed. "If traders hear that interest rates will be cut, the stock market will react positively," said Eric Beiley, Managing Director of Steward Partners Global Advisory Wealth Management. "If they don't hear the information they want, it will trigger a massive sell-off." The market fully expects the Federal Reserve to start cutting interest rates at the September meeting. But when Powell speaks on Friday, he may be tight-lipped about the timing of the interest rate cut. True to his character, he is also likely to take a cautious, vague approach in revealing how much the Federal Reserve's interest rates may decline after the easing. "The market is very confident that interest rates will be cut soon," Beiley said. If Powell does not emphasize that this is the path forward, it will be a huge surprise.

Wall Street bets Powell will confirm rate cut, but is vague on magnitude

Odaily Planet Daily Report: Next week's market will see multiple important event nodes, including a series of speeches by Federal Reserve officials. Specifically: on Monday at 9:15 PM, Federal Reserve Governor Waller will deliver the opening remarks at a summer seminar on monetary, banking, payment, and financial issues; on Wednesday at 1:35 AM, 2024 FOMC voter and Atlanta Fed President Bostic will give a speech; on Thursday at 2:00 AM, the Federal Reserve will release the minutes of its monetary policy meeting; on Thursday, the Jackson Hole Global Central Bank Annual Meeting will be held; on Friday at 10:00 PM, Federal Reserve Chairman Powell will deliver a speech on the economic outlook at the Jackson Hole Annual Meeting. In addition, US August S&P Global PMI data will be released on Thursday evening next week, and if the data unexpectedly weakens, market concerns about the US falling into recession may intensify, leading traders to bet more on the Federal Reserve cutting rates by a larger margin this year, which would be a blow to the US Dai.

Federal Reserve officials will make intensive speeches and release the minutes of the monetary policy meeting next Thursday.

PGIM's Chief U.S. Economist Tom Porcelli stated that the current 5.3% federal funds rate appears relatively high compared to the current consumer price inflation rate of less than 3%. Even if the rate is cut by 100 basis points, the Federal Reserve's policy would still be relatively tight. The policy is calibrated based on significantly higher inflation rates and significantly lower unemployment rates, but these conditions have already changed. (Jinshi)