Economist El-Erian: Powell doesn't want to admit that today's action is a supplement to not cutting interest rates in July

ChainCatcher news, economist El-Erian stated that at the press conference, facing repeated questions from reporters, Federal Reserve Chairman Powell had to deal with the unusual move of starting a rate cut cycle by 50 basis points and repeatedly assessing "good economic conditions". This has become more tricky. Understandably, he does not want to admit that today's 50 basis point rate cut is an "addition" to the lack of a rate cut in July.