It is expected that the interest rate will be cut twice by the end of the year (by 25 basis points each), with a total reduction of 100 basis points this year. Powell also reiterated in his speech after the meeting that there is no sign of recession in the US economy. Increasing the intensity of interest rate cuts is just to make up for the lack of interest rate cuts in July. A 50BP interest rate cut + the Fed's claim that the economy is not in recession is the best result of the market's previous prediction of interest rate cuts.
