CITIC Securities: The market guidance role of the Federal Reserve Chairman's speech is diminishing

According to Golden Ten Data, a research report from CITIC Securities indicates that after Walsh assumes the position of Federal Reserve Chair, it is expected that there will be one interest rate cut of 25 basis points in the second half of the year under the baseline scenario. The report emphasizes the need to closely monitor the speeches of the 12 current voting members, as the path of the Federal Reserve's monetary policy will depend more on the balance of votes among FOMC members, and the personal guidance of the Federal Reserve Chair has had less market influence than in the past.