ChainCatcher news, according to Jinshi reports, PGIM's Chief U.S. Economist for Fixed Income, Tom Porcelli, stated that the current federal funds rate of 5.3% appears relatively high compared to the current consumer price inflation rate of below 3%. Even with a 100 basis point rate cut, the Federal Reserve's policy would still be considered tight, as it is calibrated based on significantly higher inflation rates and significantly lower unemployment rates, but these conditions have changed.