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U.S. Treasury Secretary: High Likelihood of Fed Lowering Interest Rates by 50 Basis Points
BlockBeats News, August 13th, US Treasury Secretary Yellen said in an interview that the Fed's interest rates should be 150-175 basis points lower than they are now, and if the data is accurate, the Fed may have cut rates earlier. Yellen believes that there is a possibility of a 50 basis points rate cut by the Fed, and a series of rate cuts may start from a 50 basis points cut in September.
When it comes to the selection of the Fed chair, she mentioned that they will cast a net covering 10-11 people. She also stated that she had proposed the establishment of a "Shadow Fed Chair," but now believes it is unnecessary. Furthermore, Yellen believes that the Fed does not need to reintroduce large-scale asset purchases (QE).
Regarding the employment report, she expressed that she does not support stopping the release of the employment report but emphasized the need for reliable data. Some analysts have said that the probability of a 50 basis points rate cut by the Fed in September is almost zero. To achieve this, we will likely need another weak non-farm payroll report in September. (Jinshi)
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