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according to cctv news, the us federal reserve announced on the 18th that it would lower the target range of the federal funds rate by 50 basis points to a level between 4.75% and 5.00%. this is also the first interest rate cut by the federal reserve in four years.

in addition, according to the fed's forecast, the u.s. federal funds rate will reach 4.4% at the end of this year, that is, the target range of 4.25% to 4.5%, and will fall to 3.4% by 2025 and is expected to fall to 2.9% by 2026.

analysts believe that historically, unless faced with a major economic crisis, the fed rarely cuts interest rates by 50 basis points when starting a new rate cut cycle. the fed’s rate cut, which was more aggressive than expected, may be aimed at achieving a “soft landing” for the economy and offsetting the risk of a “stalling” in economic activity.

• data released by the u.s. department of labor on the 11th showed that the u.s. consumer price index (cpi) rose 2.5% year-on-year in august, 0.4 percentage points narrower than in july. this is the smallest increase since february 2021, showing signs of continued slowdown in inflation.
• at the same time, the u.s. labor market continued to weaken. according to the labor department, layoffs in the united states increased to 1.76 million in july, the highest level since march 2023.