Odaily News The Fed's January FOMC meeting decided to keep its policy unchanged, maintaining the benchmark interest rate at 4.25%-4.5%, which is in line with market expectations. Will there be further rate cuts? CICC's research report believes that there is no need to conclude that the Fed will not be able to cut interest rates in the future. From the perspective of the reflexive effect of interest rates, the less you expect a rate cut, the more likely it is to help it, just like the more you worry about a recession in September last year, the less likely it is to have a recession. Therefore, the current belief that interest rates cannot be cut is the same as the belief in September that the Fed needs to continue to cut interest rates significantly. (Jinshi)