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Nomura: Powell's huge influence will cut subsequent Fed rate cuts

Network reports, October 5 news, due to Friday's release of non-farm payrolls data far exceeded expectations, the market basically ruled out the possibility of continuing to cut interest rates by 50 basis points, economists have expressed their views。Nomura Securities International analyst Aichi Aemiya said the Fed may scale back the rate cut to 25 basis points at its November and December policy meetings。The senior economist said the Fed would not consider cutting interest rates by another 50 basis points at this time。He made the remarks on September 27 and October 1 before the release of the strong jobs report in September.。Aemiya said Fed Chairman Jerome Powell also showed he has "tremendous influence in the decision-making process of the Federal Open Market Committee (FOMC)."。He said Powell's speech at Jackson Hole at the end of August was relatively dovish, followed by a further 50 basis point rate cut by the FOMC at its September meeting, and that "Powell's opinion dominated the committee."。"

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