【Deutsche Bank: The Federal Reserve Will Not Cut Interest Rates Next Year】Golden Finance reports that Deutsche Bank has released a report on this week's FOMC meeting, which states that the Fed's meeting reinforced our basic view that the skip (interest rate cut) at the January meeting could turn into an extended pause (interest rate cut) in 2025. We continue to believe that the nominal neutral interest rate is around 3.75%, and the committee needs to maintain a restrictive stance relative to that level. Therefore, we reaffirm our view that the federal funds rate may remain above 4% next year, with the basic scenario being no further rate cuts. The report also noted that some Fed participants have begun to incorporate the potential economic impact of President-elect Trump's policies into their forecasts, which could lead to higher inflation forecasts for 2025 and 2026. Regarding the labor market, Powell described it as solid but noted that the current level of job creation is below what is needed to sustain a stable unemployment rate.