CICC: The Federal Reserve implies that if it weren't for the tariff risks, they could have cut interest rates earlier

ChainCatcher News, according to a report by CICC, the word emphasized most by Federal Reserve Chairman Powell at this meeting was "uncertainty", stressing that a considerable part of the variables come from the arbitrariness of tariff policy. Overall, weakening growth (but not much recession pressure) and rising inflation risks (mainly due to tariff disturbances) have had a mutually offsetting effect, keeping the Fed's expectations for rate cuts throughout the year unchanged. This may also imply two things: first, if it were not for tariff risks, the Fed could have cut rates earlier; secondly, if tariffs are significantly implemented, it will force the Fed to delay its rate cuts. Therefore, they are still mainly observing for now.