TechFlow news, on October 17, according to Jinshi News, James Knightley, Chief International Economist at ING, said the Federal Reserve may cut interest rates by 50 basis points over the remainder of this year. Knightley explained that the Fed's current approach focuses on risk management. Unlike most central banks, which have a single mandate of bringing inflation down to 2%, the Fed has two primary objectives: price stability and maximum employment. If the Fed becomes confident about achieving its inflation target, it may shift focus toward supporting employment. Knightley stated that a 25-basis-point rate cut in November followed by another cut in December would be appropriate. He also predicted the Fed could bring interest rates down to around 3%-3.5% by the summer of 2025.
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