Odaily Planet Daily News: Chief Economist Cheng Shi of ICBC International stated at the 2025 China Chief Economist Forum that the adjustment path of U.S. monetary policy in 2025 will be a process of 'first urgent, then gradual'. Currently, it is expected that the Federal Reserve will cut interest rates by around 50-75 basis points in 2025. Cheng noted that the re-inflation risks faced by the U.S. can mainly be viewed from two dimensions: first, the current U.S. inflation is in a zone that is easy to rise but difficult to fall, leaving very little room for further decline and making it very challenging; in fact, there are many potential factors that could drive U.S. inflation upward. Second, the current market has formed an upward expectation for U.S. inflation, and inflation expectations tend to be self-fulfilling, which will create substantial upward pressure on inflation. (Jin Shi)