Odaily reports that in its latest global economic outlook, Fitch forecasts global economic growth to slow to 2.3% this year, far below trend level and lower than 2.9% in 2024. Fitch has also revised down its US economic growth forecast from 2.1% in December last year to 1.7%, and its 2026 growth forecast from 1.7% to 1.5%. Fitch said tariff hikes will lead to higher US consumer prices, lower real wages, and increase business costs, while the surge in policy uncertainty will impact business investment. It is estimated that the tariff shock will cause a 1% rise in US near-term inflation, and believes the Fed will delay further easing until Q4 2025. We now expect the Fed to cut rates only once this year, but with the economic slowdown and tariff levels stabilizing, we expect three more rate cuts in 2026. (Jinshi)