ChainCatcher news, according to Jin Shi reports, Kevin Thozet, a member of the Caixin Macro Investment Committee, stated in a report that the U.S. short-term interest rates face an upward risk, and the market is overly confident about the prospects of the Federal Reserve cutting interest rates. He pointed out that the U.S. money market has priced in at least two rate cuts this year, reflecting market expectations that the U.S. economy and inflation will further slow down. Thozet believes this expectation is too high and mentioned that the current 10-year U.S. Treasury yield at 4.3% is expected to fluctuate around 50 basis points above and below the current level.