Standard Chartered: The Federal Reserve has no compelling reason to initiate large-scale rate cuts

ChainCatcher news, Steve Englander, the Global G10 FX Research and North America Macro Strategy Head at Standard Chartered Bank's New York branch, stated that recent U.S. economic data does not provide a compelling reason for a 50 basis point rate cut at the upcoming FOMC meeting. A 50 basis point cut with a decision error could be worse than a 25 basis point cut with a decision error. The rationale for a 25 basis point cut is that the upcoming inflation data does not support inflation rapidly approaching the 2% target. Meanwhile, the recent rise in unemployment also indicates a concerning deterioration in the economy. (Jin Shi)