Former Fed Vice Chairman: Fed is expected to cautiously lower the policy Intrerest Rate.

On August 25, Pimco's global economic advisor and former Fed Vice Chairman Richard Clarida said in a report that the Fed seems to be poised to lower policy interest rates in the near future, but will take a cautious approach. Powell's highly anticipated speech at the Jackson Hole annual symposium last week did not disappoint the market, and the Fed's revised monetary policy framework also did not catch Fed watchers off guard. In the long term, the Fed reiterated its commitment to its dual mandate, while only making minor clarifications to its monetary policy framework.