Federal Reserve Chairman Powell may hint at a gradual rate-cutting strategy

ChainCatcher news, according to Jinshi reports, PGIM Chief Global Economist Daleep Singh stated in a report that Federal Reserve Chairman Powell may hint at a more gradual rate-cutting strategy at the Jackson Hole meeting. Last week, U.S. CPI and PPI data showed that U.S. inflation remains stubborn, staying above 3%. PGIM expects the Federal Reserve to cut rates by a cumulative 100 basis points by next year, which is about 50 basis points lower than current market expectations.