Institution: If the non-farm payroll is weak tonight, the Federal Reserve is likely to cut interest rates by 50 basis points in September

BlockBeats news, on August 2nd, Eric Diton, President and General Manager of Wealth Alliance said, "I believe the Federal Reserve should have cut interest rates by 25 basis points this week but it obviously missed out. Then we saw an increase in initial jobless claims and a poor performance of the ISM Manufacturing PMI index for the fourth consecutive month. Powell says he relies on data; how Friday's non-farm payroll data performs will be key. If we see very weak data, he is likely to cut interest rates by 50 basis points in September.

Another issue is federal debt; we have $35 trillion in debt. The interest we pay on these debts now accounts for about 17% of our federal expenditure. So, interest is currently draining money that could be used for decision-making." (Jinshi)