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

[Former Vice Chairman of the Fed: The Fed is likely to cautiously lower the policy interest rate] Richard Clarida, Pimco's global economic advisor and former Vice Chairman of the Fed, stated in a report that the Fed seems poised to lower the policy interest rate in the near future, but will take a cautious approach. Powell's highly anticipated speech at the Jackson Hole annual seminar last week did not disappoint the market, and the Fed's introduction of the revised monetary policy framework also did not surprise Fed watchers. In the long run, the Fed reiterated its commitment to its dual mandate while only making slight clarifications to its monetary policy framework.