According to Odaily, Lazard's Chief Market Strategist, Temple, stated that due to inflation risks, Lazard anticipates that the Federal Reserve will not cut interest rates in 2025. Temple highlighted that Lazard's outlook significantly differs from the market consensus, which generally expects three rate cuts this year. He explained, "My view diverges from the consensus because I foresee U.S. tariffs expanding in scope and scale by 2025, driving up inflation." Temple noted that while accelerating inflation might not necessarily lead to rate hikes, rising price pressures could prevent the Federal Reserve from easing policies even if unemployment rates increase.