TD Securities analysts have indicated that the recent volatility in oil prices is unlikely to lead the Federal Reserve to adopt aggressive policy measures. According to Jin10, while the market has begun to factor in the risk of interest rate hikes due to high inflation expectations, TD Securities suggests that the Fed is more likely to adopt a 'wait-and-see' approach. The leadership at the Federal Reserve remains inclined towards implementing rate cuts in late 2026. The bank further noted that as long as long-term inflation expectations remain stable and second-round effects are controlled, the Fed will overlook the impact of this energy shock.