Citigroup chief economist: The Fed is expected to cut interest rates by 25 basis points, and will only cut interest rates significantly if it faces a recession

According to BlockBeats, on September 18, Steven Wieting, chief economist, chief investment strategist and interim chief investment officer of Citi Wealth Management, believed that the most likely outcome of the Federal Reserve's interest rate decision this week is a 25 basis point rate cut, but he stressed that no one knows exactly what the Fed will do.

Wieting noted that the Fed's rate-cutting history shows that the central bank will cut rates by 25 basis points when simply adjusting monetary policy to current economic conditions, while the Fed will typically make larger rate cuts when the economy is on the brink of recession.