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

Odaily Planet Daily News: CICC Research Report said that the Fed's June meeting remained unchanged, in line with market expectations. Officials believe that policy uncertainty has decreased, but still lowered growth forecasts and raised the inflation path judgment. The dot plot retains the judgment of two interest rate cuts this year, but the details have become marginally "hawkish", showing the cautious view within the Fed. Powell remains cautious about inflation risks and said that no one has strong confidence in the interest rate path he wrote. We believe that the Fed has no intention of rushing to cut interest rates, and if the economy allows waiting, decision makers will not act rashly in the face of inflation. We maintain our previous view that the Fed's next interest rate cut may be in the fourth quarter. (Jinshi)