TechFlow, August 21 — According to Jinshi Data, PGIM's Chief Global Economist Daleep Singh stated in a report that Federal Reserve Chair Powell may signal a more gradual rate-cutting approach at the Jackson Hole symposium. Last week's U.S. CPI and PPI data showed that inflation remains stubbornly above 3%. He noted that the number of CPI components above 4% is now roughly equal to those below 2%, a situation not seen since the inflation peak of 2021–2022. Against this backdrop, PGIM maintains confidence in its forecast, expecting the Fed to deliver a cumulative 100 basis points of rate cuts by next year, about 50 basis points lower than current market expectations.
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