Analysts at Metzler believe that money markets may be too optimistic about the Fed's interest rate cut this year. Metzler stands by its forecast that the Federal Reserve will cut interest rates twice in 2025, and now expects the next easing policy to come only in July, mainly due to the continued strength of the U.S. labor market. According to LSEG data, money markets expect three interest rate cuts in 2025. Analysts expect Powell to focus on price stability at the press conference. In particular, rising inflation expectations are currently causing concern among monetary authorities. Interest rates are only possible if the weakness of the U.S. economy is reflected in the labor market. (Jin Shi)