Jerome Powell, the chairman of the Federal Reserve in the United States, has raised expectations of a rate cut with his remarks. In the midst of this, Yun Sang-hyun, a member of the People Power Party, argued that pre-emptive rate cuts are necessary this month.
Yun stated on his social media that he strongly urges Chairman Lee Chang-yong of the Financial Services Commission and members of the Monetary Policy Board to make a decisive move.
He emphasized the need to change the direction of monetary policy now, suggesting that lowering interest rates would not only help boost domestic consumption but also benefit vulnerable borrowers such as small business owners and self-employed individuals.
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