Agency: The Fed's 50 basis point rate cut suggests unnecessary panic

Julian Howard, chief multi-asset investment strategist at GAM Investments, said it was hard not to detect a hint of unnecessary panic in the Fed's decision to cut interest rates by 50 basis points. He said that in the eyes of many people, this marks the beginning of a rate-cutting cycle aimed at supporting the U.S. economy as inflation falls back to the target level of 2.0%. He also said that at the same time, the U.S. unemployment rate remained at 4.2%, which is low by the standards of the past 30 years, and the latest non-farm payrolls report was also quite strong, with 142,000 new jobs added in August. (Jinshi)