Odaily News UOB economist Alvin Liew said the Federal Reserve may delay rate cuts due to tariff risks. Fed Chairman Powell said central bank officials are in no rush to adjust interest rates because "the cost of waiting is quite low," the economist said. Given that the Fed has expressed the need to remain patient even as it intensifies its warnings about the risks of rising inflation and unemployment due to US tariffs, UOB continues to believe that there will be three rate cuts of 25 basis points each in 2025. The economist said UOB has pushed back its expected timeline to meetings in September, October and December. UOB still believes that there will be two rate cuts in 2026, which would mean the federal funds rate would fall to 3.25% next year. (Jinshi)