Odaily Planet Daily News: Bank of America believes that inflation faces upside risks due to strong service sector spending, a still tight labor market and uncertain fiscal outlook. Even though the PCE inflation indicator has been gradually approaching the target, the resilience of US economic growth and the positive output gap make any monetary easing look premature. This supports our view that the easing cycle began in December. The impact and uncertainty surrounding the US election may be another reason why the United States does not want to cut interest rates early. (Jinshi)