According to online reports, UOB economist Alvin Liew said that due to tariff risks, the Federal Reserve may delay interest rates. Federal Reserve Chairman Powell said central bank officials were in no hurry to adjust interest rates because "the cost of waiting is pretty low," the economist said. Given that the Federal Reserve still expresses patience as it strengthens warnings about the risks of rising inflation and unemployment caused by U.S. tariffs, UOB continues to believe that there will be three interest rate cuts in 2025, each by 25 basis points. The economist said UOB postponed its expected timetable to meetings in September, October and December. UOB still believes that there will be two interest rate cuts in 2026, which means that the federal funds rate will fall to 3.25% next year.