GLONGHUI, August 9 | Most economists surveyed expect the Federal Reserve to cut interest rates by only 25 basis points in September, contrary to the appeal of some large Wall Street banks to cut interest rates drastically. Among economists surveyed by foreign media, nearly four-fifths predicted that the Federal Reserve would cut interest rates by 25 basis points at the September meeting; most of the remaining economists predicted that interest rate cuts would be even greater. The median estimate shows that the probability of urgent interest rate adjustments before the September meeting is only 10%. Following the release of weaker-than-expected employment reports last week, some major Wall Street banks, such as J.P. Morgan Chase and Citigroup, now predict that the Federal Reserve will raise interest rates by 50 basis points next month. Futures investors agree that the Federal Reserve will cut interest rates by 100 basis points before the end of the year and will start cutting interest rates by 50 basis points next month. However, economists' consensus is that the Federal Reserve will adjust 25 basis points each at meetings in September, November, and December, and the first quarter of next year.