The information released by the Federal Reserve's latest meeting resolution.

1. Maintain interest rates unchanged, no rate cut for now.

2. It is expected that there may be two more rate cuts within the year, cutting by 50 basis points.

Trump reacted angrily upon hearing that there would be no rate cuts, saying he should be the one at the Federal Reserve.

In my personal opinion, the Federal Reserve has already entered a rate-cutting cycle since last year, and the purpose of the cuts at that time was preventive.

This year's pace has slowed down slightly, as the fundamental situation is stable. Previously, it was noted that the Federal Reserve's rate cuts typically fall into three categories.

1. Preventive rate cuts.

2. A sharp decline in the U.S. stock market.

3. Real economic issues.

At present, none of these three conditions are met, so it is normal for the pace to slow down. The current expectation is that there may still be two more rate cuts, but in reality, it has been prolonged, and now the expectation is delayed to September.