[JPMorgan Chase is currently the only large US bank that insists that the Fed will cut interest rates by 50 basis points] Golden Finance reported that JPMorgan Chase is the only one of the largest banks in the United States that insists that the Federal Reserve will cut interest rates by 50 basis points. However, while other banks have returned to expectations of a 25 basis point rate cut, the bank's chief US economist Michael Feroli reiterated in a report to clients last Friday that a 50 basis point rate cut is "the right thing to do." Misra also hopes that the Fed will cut interest rates by 50 basis points at the beginning, but she said that due to policymakers' concerns about the possibility of continued inflation, a 25 basis point rate cut seems slightly more likely. She added that if the Fed does cut interest rates by 25 basis points, the market reaction will largely depend on how officials "interpret" the smaller rate cut. The presidential election in November also puts the Fed's decision-making in an unpleasant position. Republican candidate and former President Trump warned that the Fed should not cut interest rates before the election, while Democratic Senator Elizabeth Warren pressured officials to cut interest rates by 75 basis points.