According to Odaily Planet Daily, Minsheng Securities stated that the probability of the Federal Reserve pausing interest rate cuts will increase by mid-next year. The unemployment rate remains low, and due to persistent downward pressure on inflation, the Federal Reserve may still cut rates 2 to 3 times next year.
In a low-probability scenario, overly aggressive tariffs and immigration policies could lead to a decline in U.S. stocks and a significant downturn in the U.S. economy, which may result in more interest rate cuts next year.