Internet reports that on July 1, local time, Federal Reserve Chairman Powell said when attending a meeting in Sintra, Portugal that if it were not for US President Trump's tariff policy, the Federal Reserve would start cutting interest rates in 2025 and will now adopt a looser monetary policy. When asked whether the uncertainty caused by the U.S. government's current tariff system had caused the Federal Reserve to delay interest rates, Powell gave a positive answer, adding that due to the impact of tariffs, almost all forecasts for U.S. inflation are rising sharply. Powell acknowledged that despite increasing pressure from the U.S. government, the Federal Reserve has entered interest rate maintenance mode. Powell also said that given the instability of the current economic outlook, the Federal Reserve is still waiting to see the situation to learn more information.