Baumann: It is time to take decisive action to cut interest rates.

On September 23, Federal Reserve Board Governor Bowman stated that it is time to take decisive action to lower interest rates. There is more confidence that tariffs will have a smaller impact on inflation. If the labor market continues to worsen, faster rate cuts will be needed. If demand conditions do not improve, companies may begin to lay off workers. The labor market may deteriorate rapidly in the coming months. Support for a 25 basis point rate cut, but more importantly, the Fed is now actively supporting the labor market. The impact of tariffs on inflation will gradually fade, and current inflation levels are close to the target. If the economy develops as expected, last week's rate cut is expected to be the first step toward a more neutral interest rate. (Jin10)