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

Odaily Planet News: CITIC Securities research report states that the Federal Reserve maintained its policy rate unchanged at the June 2025 monetary policy meeting, in line with market expectations. The dot plot shows the central target interest rate for this year at 3.9%, unchanged from the March dot plot, again raising inflation and unemployment rate forecasts while lowering economic growth predictions. Powell's remarks were relatively bland, with a slightly hawkish overall tone. The key points of this meeting were the contradictions between the statement and SEP, as well as the divergence in the dot plot. Facing uncertain tariff policies, the Federal Reserve has slightly shifted towards controlling inflation risks. CITIC Securities still expects the Fed to cut rates no more than 2 times this year, potentially making another rate cut at the September monetary policy meeting. (Jinshi)