Odaily Planet Daily News: Former New York Fed President Dudley wrote in a recent article that it makes sense for the Fed to aggressively cut interest rates by 50 basis points. The two goals of the Fed's dual mandate (price stability and maximum employment) have become more balanced, suggesting that monetary policy should be neutral, neither suppressing nor promoting economic activity. However, short-term interest rates are still well above neutral levels. This difference needs to be corrected as soon as possible. A 50 basis point rate cut would also be consistent with the Fed's dot plot expectations. The market expects a total rate cut of at least 100 basis points by the end of 2024. If the Fed only cuts interest rates by 25 basis points now and expects a 50 basis point rate cut this year, it will send a hawkish signal, causing the market to wonder why it didn't cut interest rates by 50 basis points at the beginning. A 50 basis point rate cut in September will help the Fed get out of this dilemma. (Jinshi)