Title: Institution: Powell Suggests Possible Rate Cut Again Due to Weak Jobs Report Increasing Unemployment Rate

BlockBeats News, October 15th, Federal Reserve Chairman Powell hinted that although the government shutdown significantly weakened its ability to assess the economy, the Fed is planning to cut interest rates by another 25 basis points later this month as scheduled. Powell stated in his speech that since the September meeting, the economic outlook does not appear to have changed. At that time, the Fed cut interest rates and predicted two more cuts for this year.

Julia Coronado, Founder of MacroPolicy Perspectives and former Fed economist, said, "The rate cut in October is a done deal. Nothing can change the view that there are still downside risks in the labor market." Powell has repeatedly pointed out the slower pace of hiring, which may weaken further. After Powell's speech, expectations for an October rate cut remained almost unchanged. Federal funds futures contracts indicate that investors believe the likelihood of a rate cut is close to 100%. Yelena Shulyatyeva, Senior U.S. Economist at the World Business Federation, said, "Currently, risks in employment are rising. This will be a key driver of recent decisions." (Jin10)