Economist El-Erian: Powell does not want to acknowledge that today's action is a supplement to the lack of rate cuts in July

ChainCatcher news, economist El-Erian stated that at the press conference, faced with repeated questions from reporters, Federal Reserve Chairman Powell had to deal with the contradiction between the unusual move of starting the rate cut cycle with a 50 basis point cut and the repeated assessment that "the economy is in good shape." This became more complicated, and understandably, he did not want to acknowledge that today's 50 basis point cut was an "add-on" to the lack of a rate cut in July. (Jin Ten)