Economist El-Erian: Powell does not want to admit that today's action is a supplement to the lack of a rate cut in July

According to ChainCatcher, economist El-Erian said that at the press conference, facing repeated questions from reporters, Fed Chairman Powell had to deal with the contradiction between the unusual move of starting the interest rate cut cycle with a 50 basis point cut and repeated assessments that "the economy is in good condition." This became more difficult, and it is understandable that he did not want to admit that today's 50 basis point rate cut was an "addition" to the lack of a rate cut in July. (Jinshi)