Citic Securities Maintains Forecast for Fed Rate Cut Under Warsh

On April 30, Citic Securities released a report stating that it maintains its previous view, projecting a single 25 basis point rate cut in the second half of the year if Kevin Warsh becomes the Federal Reserve Chairman. According to Jin10, the report emphasizes the importance of closely monitoring the statements of the 12 current voting members of the Federal Open Market Committee (FOMC). The path of the Federal Reserve's monetary policy is increasingly dependent on the balance of votes among FOMC members, while the individual speeches of the Fed Chair have less influence on market guidance compared to the past.