According to Jinshi, more and more Wall Street economists are warning that the Federal Reserve may face risks if it waits too long after raising interest rates to a 20-year high. With tepid inflation data over the past three months, slowing U.S. economic growth and rising unemployment, calls for the Federal Reserve to cut interest rates at its policy meeting in two weeks are growing louder.

Fed Chairman Powell said he does not intend to send any specific signals about the timing of a rate cut. Most FOMC officials do not think a rate cut is imminent. But some well-known economists, such as Goldman Sachs Chief Economist Jan Hatzius, said that waiting for a rate cut is increasingly risky and could lead to a higher peak in unemployment with little additional gains in inflation.