CITIC Securities: The Fed is expected to cut interest rates less than or equal to 2 times this year

Odaily Planet Daily News CITIC Securities Research Report stated that the Federal Reserve's June 2025 interest rate meeting maintained the policy interest rate unchanged, in line with market expectations. The dot plot shows that the central target interest rate this year is 3.9%, the same as the dot plot in March, and the inflation forecast and unemployment rate forecast for this year are raised again, and the economic growth forecast is lowered. Powell's speech was relatively bland, and his overall attitude was slightly hawkish. The key point of this meeting lies in the contradiction between the statement and the SEP and the divergence of the dot plot. In the face of uncertain tariff policies, the Federal Reserve has shifted towards controlling inflation risks as a whole. CITIC Securities still expects the Federal Reserve to cut interest rates less than or equal to 2 times this year, or to cut interest rates again at the September interest rate meeting. (Jinshi)