Odaily Planet Daily News: Federal Reserve's Schmidt stated that the Fed is not expected to achieve the 2% inflation target until 2026. The final stage of reducing inflation to 2% may be the most challenging for monetary policy. The Fed's quantitative tightening is somewhat contradictory to interest rate cuts. The Fed's balance sheet stance continues to suppress yields. Currently, there is opposition to halting the Fed's balance sheet reduction efforts. There is concern that measures to reduce the balance sheet could lead to volatility.