Trump friend Steve Witkoff participates in negotiations to invest in Binance US

[Federal Reserve Economic Outlook Indicates Soft Landing Expectations] Allspring Global Investments manager stated that the Federal Reserve's 'Summary of Economic Projections' indicates there may be two rate cuts this year, GDP growth forecasts have been revised upward, unemployment rate is expected to decline, and the economy may continue to achieve a soft landing. This is favorable for the credit market, with yields remaining attractive. Attention should be paid to the rate-cut cycle and the possibility of stock market peaks accelerating merger and acquisition activities, which could pose challenges for credit investors.

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[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%.