Institutions: It is expected that the Federal Reserve will not cut interest rates in 2025.

On March 17th, Golden Data News, Lazard's chief market strategist Temple said that due to inflation risks, Lazard still expects the Fed not to cut rates in 2025. He stated that Lazard's view differs significantly from the market Consensus, as the market generally believes there may be three rate cuts this year. Temple said: 'My view is different from the Consensus because I expect that by 2025, U.S. tariffs will expand in scope and scale, pushing up inflation.' He said that a further acceleration in inflation may not necessarily lead to rate hikes, but price pressures may make it difficult for the Fed to loosen policy when the unemployment rate rises.