CITIC Securities: It is expected that the Federal Reserve will cut interest rates again at the September meeting

ChainCatcher news, according to Jinshi Data reports, Citic Securities research report states, "In June 2025, the number of new non-farm jobs in the U.S. exceeded expectations, and the unemployment rate was lower than expected. However, this non-farm report actually shows that the U.S. job market continues to weaken. We still believe that the 'buffer' in the U.S. job market is limited, and the continued weakening of the job market may accelerate the rise in the unemployment rate.

However, the 4.1% unemployment rate in June gives Powell more 'reasons' to observe the impact of summer tariffs on inflation. We maintain our previous view that the Federal Reserve is expected to cut interest rates again at the September meeting."