The Federal Reserve may find it difficult to cut interest rates this year as inflationary pressures continue to intensify

According to Jinshi reports, the CICC research report points out that several recent U.S. inflation data have exceeded expectations, the employment market is stabilizing, and there has been a sell-off in bonds, intensifying market concerns about inflation. It is expected that the U.S. PCE inflation will remain above 3.5% for the year, with core PCE inflation above 3%, both significantly higher than the Federal Reserve's 2% policy target. Against this backdrop, the Federal Reserve's policy stance will be more cautious, and further interest rate cuts may be difficult within the year.