According to Odaily, James Knightley, Chief International Economist at ING, has indicated that the Federal Reserve may reduce interest rates by 50 basis points for the remainder of this year. Knightley explained that the Fed's current approach is focused on risk management. Unlike most central banks that have a single objective of reducing inflation to 2%, the Federal Reserve has two primary goals: price stability and full employment. If the Fed is confident in achieving its inflation target, it may shift its focus to supporting employment.Knightley suggested that a 25 basis point rate cut in November, followed by another cut in December, would be very appropriate. He also predicted that the Federal Reserve might lower rates to around 3%-3.5% by the summer of 2025.
