CICC: The Fed will not act rashly in the face of inflation

Planet Daily News: CICC research report states that the Federal Reserve remained on hold at its June meeting, in line with market expectations. Officials believe policy uncertainty has decreased, but they lowered growth forecasts and raised inflation path assessments. The dot plot maintains the expectation of two rate cuts this year, but the marginal details have turned more "hawkish", revealing the Federal Reserve's cautious internal perspective. Powell remains cautious about inflation risks and stated that no one has strong confidence in the written interest rate path. We believe that the Federal Reserve has no intention of hastily cutting rates, and policymakers will not act rashly in the face of inflation when the economy allows waiting. We maintain our previous view that the next Fed rate cut may be in the fourth quarter. (Jinshi)