Gold Finance reported that Tom Hainlin, senior investment strategist at Bank of America, said, "We don't have a strong opinion on whether they will cut rates by 25 basis points or 50 basis points. So, we wouldn't say we'd be surprised either way. Going forward, at least through the end of the year, we should expect two more rate cuts. With inflation starting to get closer to target, it's not surprising Powell is focused on his mandate on employment. He's worried about potential downside risk to the labor market. There are some signs that the labor market might be a bit weaker than the data shows. So this seems like a relative insurance measure to us for the labor market to prevent unemployment from rising and keep the economy running well."