According to Jinshi, on October 8, Fed Chairman Williams said that the Fed is now "in a favorable position" to achieve a soft landing of the US economy.

He signaled that the Fed supports slowing the pace of rate cuts after a sharp 50 basis point rate cut in September. Williams said the "very good" September jobs report confirmed that the U.S. economy remains strong and healthy.

Williams said the latest dot plot shows the Fed will cut interest rates by 25 basis points at each of its two remaining meetings this year, and those decisions will be data-driven rather than following a "pre-set course."