Standard Chartered: The Fed has no compelling reason to initiate a large-scale rate cut

Odaily Odaily News: Steve Englander, head of global G10 foreign exchange research and North American macro strategy at Standard Chartered Bank's New York branch, said that recent US economic data did not provide a convincing reason for a 50 basis point rate cut at the upcoming FOMC meeting. A 50 basis point rate cut with a wrong decision may be worse than a 25 basis point rate cut with a wrong decision. The reason for the 25 basis point cut is that the upcoming inflation data does not support inflation approaching the 2% target quickly. At the same time, the recent rise in unemployment also shows a worrying deterioration in the economy. (Jinshi)