CITIC Securities: The guiding role of the Federal Reserve Chairman's speech in the market has diminished

According to Jinshi reports, Citic Securities' research report indicates that after Waller takes office as the Federal Reserve Chairman, the baseline scenario for the second half of the year is expected to include one rate cut of 25 basis points. The report emphasizes the need to closely monitor the speeches of the 12 current voting members, as the Federal Reserve's monetary policy path depends more on the balance of votes among FOMC members, and the guiding role of the Federal Reserve Chairman's personal speeches on the market has decreased compared to the past.