PANews reported on October 1 that Federal Reserve Chairman Powell still believed that the US economy would achieve a soft landing at the annual meeting of the National Association for Business Economics (NABE) in Nashville. Powell said on Monday that the interest rate cut process will be further "readjusted" based on the upcoming economic data. He said: "By appropriately adjusting our policy stance, the labor market can remain resilient in an environment of moderate economic growth and continued decline in inflation toward target." "Overall, the economy is in good shape; we intend to use our tools to maintain this situation. Powell said that if the economy continues on its current track, he expects two more 25 basis point rate cuts this year, and the market has been betting on a more aggressive rate cut cycle.
