Odaily Odaily reports that Lazard's chief market strategist Templar said that due to inflation risks, Lazard still expects the Federal Reserve not to cut interest rates by 2025. He said that Lazard's view differs significantly from the market consensus, which generally believes that there may be three rate cuts this year. Templar said: "My view is at odds with the consensus because I expect US tariffs to expand in scope and scale by 2025, driving up inflation." He said that a renewed acceleration of inflation does not necessarily lead to rate hikes, but rising price pressures may prevent the Federal Reserve from easing policy even as the unemployment rate rises. (Jinshi)