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

According to ChainCatcher, Steve Englander, head of global G10 foreign exchange research and North American macro strategy at Standard Chartered Bank 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 inflation data to be released 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)