Odaily Planet Daily News: In the view of Nomura Securities analysts, the possibility of the Federal Reserve cutting interest rates in March is already slim, and they now believe that the Fed will remain on hold throughout 2025. David Seif and others wrote that while US economic activity should remain strong in the short term, it may slow down due to the Trump administration's aggressive trade policy. Analysts say tariffs will drag on US consumer spending, while policy uncertainty is a headwind for corporate investment. Due to tariff-induced inflation, the Fed's weakening policy easing may curb the recovery of the housing market. They believe that once the inflation caused by tariffs passes, the Fed may resume easing policies in the second quarter of 2026. Risks to their views include more moderate trade policies or the Fed ignoring tariff-driven inflation. (Jinshi)