Analysis: The Fed may be forced to cut rates again after its initial 0.5 percentage point cut

Fed Chairman Jerome Powell has made clear the central bank is in no rush to cut rates and prefers smaller cuts, but that patience will be tested this fall in the face of a series of closely watched jobs reports that begin on Friday. If there are any new signs of deterioration in the job market, the Fed may be forced to make another big cut after an initial half-point cut, even if policymakers expect to cut rates by 25 basis points in November and December. The latest job market data due on Friday is expected to reinforce the mild cooling trend, with economists forecasting 146,000 jobs created last month and the unemployment rate unchanged at 4.2%. Such a report would be roughly in line with the 142,000 jobs created in August. (Jinshi)