The Fed's interest rate cuts may show a fast-slow-fast trend, with the first round of cuts possibly starting in Q4 2025.

[BitPush] According to reports, the China International Capital Corporation research report states that the Fed's interest rate cut cycle may be divided into three phases: the first phase in Q4 2025, with a relatively fast pace of rate cuts, possibly cutting rates 3-4 times in a row; the second phase in the first half of 2026, with a slower pace of rate cuts. As inflation continues to rise, the Fed may need to rebalance the risks of declining growth and rising inflation, and cannot sustain rapid rate cuts, possibly calming the financial market by stopping "balance sheet reduction". The second half of the year will be the third phase, with the pace of rate cuts accelerating again.