CITIC Securities: The Federal Reserve will cut interest rates by 25bps in September, and will cut rates by another 25bps in October and December respectively
BlockBeats News, on September 8th, a Citic Securities research report stated that the U.S. August non-farm payroll data weakened again, with the July unemployment rate rising to 4.248% to three decimal places, the August unemployment rate rising to 4.324% to three decimal places, and a one decimal place unemployment rate recorded at 4.3%, in line with market expectations. The August non-farm payroll increase was significantly below expectations, with both the government and private sectors weakening. In addition, U.S. employment data such as ADP and PMI employment sub-indexes all weakened this week, confirming previous views: the U.S. labor market is not as healthy as the data superficially shows, the U.S. labor market continues to cool, the economy continues to weaken, but is not immediately heading into a recession. For the Federal Reserve, labor market risks will rise again, Citic continues its previous view, expecting the Fed to cut interest rates by 25bps at the September rate-setting meeting and cut rates by another 25bps in October and December, respectively. (FX678)
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