Bitget App
Trade smarter
Buy cryptoMarketsTradeFuturesEarnWeb3SquareMore
Trade
Spot
Buy and sell crypto with ease
Margin
Amplify your capital and maximize fund efficiency
Onchain
Going Onchain, without going Onchain!
Convert
Zero fees, no slippage
Explore
Launchhub
Gain the edge early and start winning
Copy
Copy elite trader with one click
Bots
Simple, fast, and reliable AI trading bot
Trade
USDT-M Futures
Futures settled in USDT
USDC-M Futures
Futures settled in USDC
Coin-M Futures
Futures settled in cryptocurrencies
Explore
Futures guide
A beginner-to-advanced journey in futures trading
Futures promotions
Generous rewards await
Overview
A variety of products to grow your assets
Simple Earn
Deposit and withdraw anytime to earn flexible returns with zero risk
On-chain Earn
Earn profits daily without risking principal
Structured Earn
Robust financial innovation to navigate market swings
VIP and Wealth Management
Premium services for smart wealth management
Loans
Flexible borrowing with high fund security
Economists predict that Powell may seek unanimous approval for a rate cut decision, even a substantial rate cut

Economists predict that Powell may seek unanimous approval for a rate cut decision, even a substantial rate cut

Bitget2024/09/10 07:08

Federal Reserve Chairman Jerome Powell is likely to try to get everyone on board for at least a 25 basis point rate cut at the meeting later this month. However, due to recent labor market weakness, Powell and others may push for larger scale cuts. "Powell doesn't need consensus at the upcoming September meeting to start cutting rates, but he might prefer it that way, especially during the first rate cut," said Kathy Bostjancic, Senior Vice President and Chief Economist of Nationwide in an email. Former Labor Department economist Betsey Stevenson wrote on social media: "Consensus has always been a way to prevent politicization of the Fed; if I were serving on FOMC, I think I would prioritize seeking consensus." Dan North, senior economist at Allianz Trade Americas spoke about whether Powell could gain consensus for larger scale cuts: "It will be difficult. There will be a lot of opposition voices which would look bad." Diane Swonk, chief economist at KPMG wrote on social media that Powell might be willing to take this risk. Swonk wrote: "Powell is more worried about the labor market than his colleagues are. He wants a soft landing. The question is whether he'll push hard for a 50 basis point cut and how much opposition he's willing to accept in order achieve this goal."

0

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

PoolX: Earn new token airdrops
Lock your assets and earn 10%+ APR
Lock now!