ADB: Tariffs meet with Fed rate cuts, bringing "welcome relief" to Asian economies

According to the Wisdom Finance APP, Albert Park, Chief Economist of the Asian Development Bank (ADB), stated that the long-awaited interest rate cut by the Federal Reserve will bring a welcome relief to Asian economies still dealing with the Trump administration's tariff plan. The Fed is expected to cut interest rates in September, as data showed a significant slowdown in US non-farm payroll growth in August, with the unemployment rate rising to its highest level since 2021. Park, in an interview in Sydney on Monday, stated that if the rate cut is implemented, it will be "beneficial for the financial conditions in the region."