Express
CITIC Securities: Fed may cut interest rates twice this year
Summary: According to reports, CITIC Securities pointed out that US inflation in June continued to remain stable, with core CPI increasing at a slower rate for the fifth consecutive month, mainly due to cooling rental inflation and used car prices. The soft core inflation this time does not confirm the speculation that 'tariffs have a slight ...
According to reports, CITIC Securities pointed out that US inflation in June continued to remain stable, with core CPI increasing at a slower rate for the fifth consecutive month, mainly due to cooling rental inflation and used car prices. The soft core inflation this time does not confirm the speculation that 'tariffs have a slight impact on inflation'. In fact, our tracking index, such as 'CPI with high import content', shows that tariffs have already begun to affect the prices of import-sensitive consumer goods in the US. We still believe there are concerns about a rebound in US inflation, with a small possibility of a rate cut by the Fed in July and a maximum of two rate cuts this year. The potential for continued weakening of the US dollar may be limited, and the attractiveness of US bonds may still not be very strong.
