[Fed Semi-annual Monetary Policy Report: Rate Cuts Require Greater Confidence in Inflation] According to Golden Finance, the Fed said in its semi-annual monetary policy report that although inflation has improved this year, it still needs to have greater confidence in inflation before implementing a rate cut policy. The report predicts that real estate-related inflationary pressures will gradually decrease. Although some banks' commercial real estate portfolios are under pressure, the financial system as a whole remains healthy and resilient. The report also pointed out that liquidity is still ample for most domestic banks.