Powell hints at possible rate cut again due to weak hiring and rising unemployment rate

ChainCatcher news, according to Jinshi reports, Federal Reserve Chairman Powell hinted that despite the government shutdown weakening the ability to observe the economy, the Fed plans to cut interest rates by 25 basis points later this month. Powell stated that there has been no change in the economic outlook since the September meeting, and there are downside risks in the labor market. Federal funds futures contracts show that investors believe the likelihood of a rate cut is nearly 100%.