Odaily Planet Daily News: Adrian Cooper, CEO and chief economist of Oxford Economics, said: "Our expectation is that the Fed will start cutting interest rates in the second half of this year, perhaps in September. But this depends largely on changes in potential inflation, especially relative to wage growth. Labor inflation expectations have risen rapidly in the past few years, which has surprised the Federal Reserve and many central banks. This means that workers are not only seeking wage increases to make up for higher-than-expected inflation in the past, but also because they believe that inflation may remain high. They seek wage increases. I think the Fed wants to see decisive evidence that the process of slowing inflation will continue, not only overall inflation, but also core inflation will return to 2% before it is really ready to cut interest rates significantly. Many people believe that tight monetary policy will lead to a significant slowdown in US economic growth, but as interest rates rise, the United States introduced major fiscal stimulus measures last year, such as the Inflation Reduction Act and the CHIP Act, which largely offset the impact of US interest rate hikes. In addition, US consumers continued to spend their excess savings last year. Although this process may have ended now, I think the US economy is still healthy and it is unlikely to see a major adjustment in the US economy. The US seems to be achieving a soft landing. This allows the Fed to be cautious with monetary policy and take its time to make a decision to cut interest rates. The US labor market is still quite healthy, and business investment is also quite healthy, driven by various tax measures and new technologies. " (Yicai)