According to online reports, Paul Eitelman, an analyst at Russell Investments, pointed out in a report that given the impact of tariffs and geopolitical risks, the Federal Reserve may keep interest rates unchanged throughout the summer. The world's chief investment strategist said: "Federal Reserve Chairman Powell may remain vigilant about the risks posed by tariffs and emerging conflicts in the Middle East." He said the Fed believes tariffs pose a downside risk to the economy, but this weakness has not yet been evident in the data, while inflation has remained stable. "We expect one, maybe two, rate cuts before the end of the year," Eitelman said.