ChainCatcher news, according to Jin Shi reports, PGIM Chief Global Economist Daleep Singh stated in a report that Federal Reserve Chairman Powell may hint at a more gradual rate cut strategy at the Jackson Hole meeting. Last week, U.S. CPI and PPI data showed that inflation in the U.S. remains stubborn, staying above 3%. PGIM expects the Federal Reserve to cut rates by a cumulative 100 basis points by next year, which is about 50 basis points below current market expectations.