Viewpoint: It is expected that interest rates will be cut by a total of 75 basis points by the end of the year.

On August 22, Nationwide Chief Economist Kathy Bostjancic stated that the Fed will cut rates by a cumulative 75 basis points by the end of the year. She pointed out: "Powell has taken a noticeably more dovish tone and has significantly opened the door for a rate cut in September, as he believes the downside risks to employment are rising significantly. This supports our judgment of a 25 basis point cut next month, and we continue to expect that the Fed will cumulatively cut rates by 75 basis points by the end of the year, as the labor market will weaken further, while the rise in inflation is only moderate and temporary." (Jin10)