ChainCatcher reported that economist El-Erian stated that during the press conference, Federal Reserve Chairman Powell had to address the contradiction between the unusual move of initiating a rate cut cycle with a 50 basis point reduction and repeatedly evaluating the "economy as being in good shape" in response to repeated questions from reporters. This became more challenging, understandably, because he did not want to acknowledge that today's 50 basis point cut was a "catch-up" for not cutting rates in July. (Jin10)