Jefferies: The Federal Reserve is still expected to cut interest rates in January next year

According to Jin Ten's report, although the latest published Federal Reserve meeting minutes have a hawkish tone, Jefferies economist Mohit Kumar pointed out in a report that the Federal Reserve is still on a loose path overall. Even if the Federal Reserve remains unchanged in December, it is expected to cut rates in January next year. The Federal Reserve's decisions are data-driven, and in the coming months, the weight of employment data may surpass that of inflation. The baseline scenario is a moderate slowdown in job growth, with the unemployment rate gradually rising to 4.5%.