Economist: Unless there is an extremely unexpected non-farm data, the Fed will not change its mind about cutting interest rates by 25 basis points

Bill Adams, chief economist at Comerica Bank, analyzed that he predicted that the new non-farm population would only be 30,000, which was far below general expectations. Adams said that the Fed is unlikely to change direction due to this report, and only extremely unexpected data could change the officials' minds, so the Fed is expected to cut interest rates by 25 basis points at next week's meeting. Gregory Daco, chief economist at Ernst & Young-Parsons, also expects a 25 basis point cut in interest rates, but he warned that some policymakers may use the weak October non-farm data to strengthen their support for more aggressive rate cuts. He said: "I don't think Powell will support the camp of aggressive rate cuts." He expects Powell to still believe that gradual adjustments to monetary policy are most beneficial to the economy and will push the committee to choose a 25 basis point cut in interest rates. (Jinshi)