Institution: US interest rates expected to slightly decrease by the end of the year, substantial rate cut to come next year.

Insight Investment's fixed income manager Brendan Murphy pointed out in the report that US interest rates may see a slight decline by the end of this year, but substantial rate cuts are expected to occur next year. Despite weakening economic prospects, the inflation pressure brought by recent US trade tariffs will make the Federal Reserve's policy responses more complex. In this context, it is expected that the Federal Reserve will adopt a cautious approach. The institution predicts that in 2026, after the inflation pressure eases and growth concerns become the dominant factors, the Fed will take more decisive rate-cutting measures.