After the Federal Reserve started its rate cut cycle this week, several major Wall Street banks have different views on the speed and magnitude of the next rate cut, which has kept financial markets nervous before the outlook becomes clear.

On Wednesday, the Federal Reserve unexpectedly cut its benchmark interest rate by 50 basis points. Subsequently, several economists adjusted their forecasts. For example, Goldman Sachs expects the Federal Reserve to cut interest rates by 25 basis points at each meeting from November to June next year. JPMorgan Chase, which accurately predicted the rate cut this week, said that another 50 basis point cut may be made in November, but this will depend on the performance of the labor market.