Huatai Securities: It is expected that the Federal Reserve may pause interest rate cuts in the future.

Huatai Securities pointed out that the Federal Reserve announced its decision on the December meeting on the morning of December 11th Beijing time, lowering interest rates by 25 basis points as scheduled and starting the purchase of reserve management. The dot plot maintains guidance for one rate cut each in 2026-2027; Powell's statement is dovish. Considering that the labor market will gradually improve, it is expected that the Fed may pause rate cuts in the future.