Most investment banks are expecting the Federal Reserve to cut interest rates in September, while Goldman Sachs and Bank of America are still observing the situation.

Zhtng Cijng APP noted that major investment banks, including Barclays, BNP Paribas, and Deutsche Bank, now expect the Federal Reserve to cut interest rates by 25 basis points in September. Earlier, at the Jackson Hole Symposium, Federal Reserve Chairman Powell changed his tone and mentioned the increasing risks in the labor market.