加拿大帝国商业银行：市场对美联储大幅降息预期过度乐观

Core Viewpoint - The weak U.S. non-farm payroll data in August and the downward revision of June's data to negative have led the market to speculate on a potential 50 basis point rate cut by the Federal Reserve this month [1] Group 1 - Canadian Imperial Bank of Commerce economist Timothy Musial believes that investor reactions may be exaggerated [1] - Most bets are still focused on a gradual 25 basis point rate cut [1] - Musial anticipates that the Federal Reserve will maintain policy flexibility after the September 17 meeting and will not commit to a rate cut in October [1] Group 2 - Current GDP growth estimates remain at 3% [1] - Inflation levels continue to stay above target [1]