Former senior economist of the Obama administration and current Harvard University professor Jason Furman believes that if the labor market remains healthy, the Federal Reserve may only cut the benchmark interest rate once this year. Jason Furman stated that the Federal Reserve has entered a new phase of 'needing a reason' to cut rates; last year, the Fed thought 'everything was fine, so why not cut rates,' but if the labor market remains healthy, considering concerns about the inflation outlook and uncertainty about whether interest rates are already at the optimal level for slowing demand, a 25 basis point rate cut may be the most likely event to occur this year.

However, Jason Furman added that if circumstances change and the unemployment rate starts to rise, 'the Federal Reserve will intervene' and ease policy. (Jinshi)