Minsheng Securities stated that the probability of the Fed suspending interest rate cuts in mid-2020 has increased. With the unemployment rate remaining low and inflation being hindered in its decline, the Fed may cut interest rates 2 to 3 more times next year and may suspend rate cuts in the second half of the year. In the unlikely event that tariffs and immigration policies are too aggressive, it could lead to a decline in the US stock market and a significant downturn in the US economy, which could result in more interest rate cuts next year. (Jinshi)

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