Chair Powell: "Low Likelihood of Rate Hike Next Year"

Jerome Powell, Chair of the Federal Reserve, stated at a press conference following the FOMC meeting on the 18th (local time) that "the likelihood of a rate hike next year is low." He added, "Geopolitical risks remain one of the major risk factors, but there are no geopolitical risks currently apparent that could impact the United States." Meanwhile, the Federal Reserve announced a 0.25%p cut in the benchmark interest rate today. This marks the third consecutive cut following the 0.5%p 'big cut' in September. As a result, the U.S. benchmark interest rate has fallen to 4.25%~4.50%.