According to Odaily, analysts from BNP Paribas Markets 360 anticipate that the Federal Reserve will not lower interest rates until mid-2026. This perspective has been maintained since December of last year. Their forecast is partly based on tariff expectations, but recent developments suggest they may need to revise their initial tariff estimates upwards. This adjustment has bolstered the analysts' confidence in their inflation expectations, which are already higher than the market consensus. Currently, the money market predicts that the Federal Reserve will resume rate cuts in September.