Polymarket bettors see Lutnick as Treasury Secretary favorite after Musk endorsement

[Powell: Federal Reserve to Cut Workforce by 10%, Returning to Levels of 10 Years Ago] Federal Reserve Chairman Powell stated that the Federal Reserve is reducing its workforce by 10%. Once the layoffs are complete, the number of employees will return to the levels of 10 years ago. He emphasized his willingness to accept constructive criticism but believes there is no need for a formal review of the Federal Reserve.

[Powell: Risk Shift Prompted Today's Rate Cut Decision] On September 18, Federal Reserve Chairman Powell stated that the current risk balance has shifted, with employment facing downward pressure and inflation risks tilting upward. He emphasized that this rate cut is an appropriate decision based on the shift in risks, not a predetermined policy path.

[Fed Maintains Inflation and Unemployment Rate Forecasts, Raises Economic Growth Expectations] On September 18, the Federal Reserve released its latest economic projections, forecasting a median inflation rate of 3% by the end of 2023 and keeping the unemployment rate unchanged at 4.5%. Meanwhile, it raised its economic growth expectation from 1.4% to 1.6%.

[Powell: Tariff Impact on Inflation May Be Temporary] Federal Reserve Chairman Powell stated on September 18 that the overall impact of tariffs on inflation still needs to be observed, with the current baseline expectation suggesting that the impact may be temporary.

[New Fed Governor Milan Suggests a 50 Basis Point Rate Cut] On September 18, the Federal Reserve's FOMC statement revealed that new governor Milan opposed the current interest rate decision and suggested a 50 basis point rate cut. It is reported that Milan was appointed with the support of Trump.