BlockBeats news, August 22, Nationwide Chief Economist Kathy Bostjancic stated that the Federal Reserve is expected to cut interest rates by a cumulative 75 basis points by the end of the year. She noted, "Powell has adopted a noticeably more dovish tone and has significantly opened the door for a rate cut in September, believing that the downside risks to employment are rising significantly. This supports our judgment of a 25 basis point rate cut next month, and we continue to expect that the Federal Reserve will have cut rates by a cumulative 75 basis points by the end of the year, as the labor market is expected to weaken further, while inflation rises only moderately and temporarily." (Jin Shi)