Institution: The Federal Reserve can hardly offset the impact of high uncertainty.

Odaily News The head of BlackRock Investment Research, Boyuan, stated that this year’s unusually high policy uncertainty has disrupted financial markets, and the Federal Reserve is powerless to address this issue, being affected itself. He noted that Federal Reserve Chairman Powell emphasized this point several times in Wednesday’s policy statement, pointing out that uncertainty is a reason for “(maintaining) policy inertia.” “We believe that it will be difficult for the Federal Reserve to cut interest rates more than once or twice this year—even if long-term uncertainty begins to hurt otherwise healthy economic growth.” (Jinshi)