ChainCatcher message, Federal Reserve Chairman Powell: For December, we will focus on the upcoming data and how this data will affect the economic outlook.

ChainCatcher news, Moody's analyst Stefan Angrick stated that the Bank of Japan's economic outlook is relatively hawkish. The forecasts for economic growth and inflation indicate that the bank is still likely to raise interest rates in the near future. Aside from a slight upward revision of the growth forecast for fiscal year 2025 and a slight downward revision of the inflation forecast, these predictions have changed little.Angrick stated, "The Bank of Japan believes that the Japanese economy has moderately recovered, with growth above the potential growth rate." He added that the Bank of Japan indicated that consumption is on a "moderate growth trend," which differs from the "resilience" wording used in July. He noted that these cautiously optimistic assessments contradict the poor data from the past year. "The Japanese economy is stagnating, and evidence of demand-driven price pressures remains scant."

ChainCatcher News: The Bank of Japan has maintained its policy interest rate unchanged, in line with market expectations, while reiterating its commitment to achieving stable inflation and economic growth.Most observers of the Bank of Japan were not surprised by Thursday's decision, as the central bank's governor had expressed increasing concerns about the uncertain global economic outlook well in advance. He also indicated that the Bank of Japan has time to analyze risk factors, suggesting that the bank will continue to act cautiously.In the quarterly outlook released on Thursday, the Bank of Japan stated that it expects inflation to remain around the 2% target in the coming years. This closely watched report will bolster expectations that policymakers will soon raise interest rates again. (Jin Shi)

ChainCatcher news, according to Bitcoin.com, JPMorgan CEO Jamie Dimon expressed a cautious outlook on the economic prospects during the company's Q3 2024 earnings call. He emphasized concerns about global instability: "We have been closely monitoring the geopolitical situation for some time, and recent events indicate that the situation is very dangerous and is worsening."He added, "Humanity is suffering greatly, and the consequences of these situations could have profound impacts on short-term economic outcomes, and more importantly, on the course of history." He stressed that as geopolitical tensions escalate, widespread chaos may occur, warning that this could have serious repercussions for global markets.Dimon also discussed issues facing the U.S. economy. He acknowledged that while inflation is cooling and the U.S. economy remains strong, some potential risks still exist. He stated, "Several key issues remain, including massive fiscal deficits, infrastructure needs, trade structural adjustments, and global remilitarization."He emphasized the necessity of staying vigilant and urged preparedness for unpredictable economic changes. "While we hold out the best hopes, these events and the pervasive uncertainty indicate why we must be prepared for any environment," he concluded.

ChainCatcher news, according to Jinshi reports, Federal Reserve's Logan stated that the economic outlook still has "significant uncertainty," supporting the decision for the Federal Reserve to lower interest rates in September. There are notable risks that inflation may remain significantly above 2%, leaning towards a "more gradual path" back to normal interest rate levels.

ChainCatcher news, Federal Reserve Chairman Powell did not discuss monetary policy or economic outlook in his brief opening remarks at the New York Fed. (Jin Shi)

ChainCatcher news, Peter Cardillo, chief market economist at Spartan Capital Securities, stated that he originally expected the Federal Reserve to gradually cut interest rates by 25 basis points, but the Fed's actions have been "much more generous" than he anticipated, especially as they have already hinted at a possible additional cut of 50 basis points before the end of the year.Cardillo believes that the Fed's move is clearly dovish, mainly due to concerns about a weak labor market. Although the news initially prompted a positive reaction in the U.S. stock market, Cardillo pointed out that market sentiment may change in the coming days, and investors might start to worry about the economic outlook.

ChainCatcher news, Federal Reserve Chairman Powell will deliver a speech on the economic outlook at the Jackson Hole Economic Symposium at 10 AM Eastern Time on August 23 (10 PM Beijing Time on August 23), setting the tone for the interest rate cut window in September.This is the first full day of the annual economic symposium held by the Kansas City Fed in Jackson Hole, Wyoming. This global central bank annual meeting provides Powell with an opportunity to make the latest assessment of the trajectory of the U.S. economy and the outlook for monetary policy between the Fed's decision-making meetings in July and September. Last month, he indicated that if inflation and the labor market continue to cool, the Fed may consider an interest rate cut at its next meeting.