RBC: The Fed is expected to cut interest rates by 25bp, and Powell remains cautious

Odaily Odaily News: Royal Bank of Canada continues to expect the United States to achieve normalization rather than recession, and the Federal Reserve will cut interest rates by 25 basis points in September. The Federal Reserve's Summary of Economic Projections (SEP) is expected to show that the median rate cut this year will be 75 basis points, higher than the 25 basis points expected in July, which is consistent with the bank's forecast. In addition, the bank believes that the remarks of Federal Reserve Chairman Powell are likely to remain cautious - hinting at future rate cuts without committing to a predetermined path to allow for greater flexibility in future decisions. (Jinshi)