CITIC Securities: The Federal Reserve will cut interest rates by 25bps in September and cut interest rates by 25bps in October and December respectively

According to BlockBeats, on September 8, CITIC Securities Research Report said that the US non-farm data weakened again in August, with the three-decimal decimal unemployment rate rising to 4.248% in July, the three-decimal decimal unemployment rate rising to 4.324% in August, and the one-decimal unemployment rate recording 4.3%, in line with market expectations. The number of new non-farm employment in August was significantly lower than expected, with both government and private sectors weakening. In addition, this week, U.S. employment data such as ADP and PMI employment sub-items weakened across the board. Previous views have been confirmed: the U.S. employment market is not as healthy as the data shows on the surface. The U.S. employment market continues to cool down and the economy continues to weaken, but it will not fall into recession immediately. For the Fed, job market risks will rise again. CITIC continues its previous view and expects the Fed to cut interest rates by 25bps at its September interest rate meeting and another 25bps in October and December respectively. (Jin Shi)