Traders expect the Federal Reserve to unexpectedly cut interest rates, with a 60% chance of a 25 basis point cut within a week

ChainCatcher news, according to Jinshi reports, traders expect a 60% chance that the Federal Reserve will cut interest rates by 25 basis points within a week.

As U.S. stock index futures move away from their lows, the sell-off has slightly stalled, but remains in a downward trend. This is a clear sign of market panic, as the Federal Reserve kept interest rates unchanged at its recent meeting, with Powell indicating that the issue of rate cuts may be discussed at the September meeting. Chicago Fed President Goolsbee will speak before the U.S. stock market opens. After the weaker-than-expected U.S. employment data was released, he stated that the Federal Reserve would not overreact to any single report, but would look for the "common thread" in the data and act in a "stable" manner.