CITIC Securities: Expected Fed to cut interest rates less than or equal to 2 times within the year

Odaily Planet Daily News: According to a research report by CITIC Securities, the Federal Reserve will maintain the policy rate unchanged at its June 2025 meeting, which is in line with market expectations. The current dot matrix chart shows that the central target interest rate for this year is 3.9%, which is the same as the March dot matrix chart. The inflation forecast and unemployment rate forecast for this year have been raised again, and the economic growth forecast has been lowered. Powell's speech was relatively plain in content, with an overall hawkish stance. The key point of this meeting lies in the contradiction between the statement and SEP, as well as the differences in the dot matrix. In the face of uncertain tariff policies, the Federal Reserve as a whole has shifted towards controlling inflation risks. CITIC Securities still expects the Federal Reserve to cut interest rates less than or equal to 2 times this year, and may cut interest rates again at the September meeting. (Golden Ten)