CITIC Securities: It is expected that the Federal Reserve will cut interest rates three times this year, each by 25 basis points

ChainCatcher news, according to Jinshi reports, Citic Securities research report states that Powell's speech at the Jackson Hole central bank summit aligns with previous expectations, emphasizing the downside risks in the labor market, continuing the view from the July interest rate meeting that "tariff inflation is transitory," paving the way for a rate cut in September. Citic Securities expects the Federal Reserve to cut rates three times this year, each by 25 basis points. At the same time, the Federal Reserve will abandon the average inflation targeting framework, returning to a flexible inflation targeting framework, and will revise its wording to emphasize attention to "two-sided" risks in the labor market.