Institutions: Despite the market Fluctuation, the Fed is unlikely to cut interest rates urgently.

According to a report by Golden Finance, Björn Jesch, the Global Chief Investment Officer of DWS, stated that despite recent market volatility, the Federal Reserve may continue its expected policy path. He stated in a report that it is unlikely for the Federal Reserve to have a panic-driven reaction, and he expects the Central Bank to try to avoid signaling significant policy changes, such as a 50 basis point interest rate cut or an emergency rate cut between two meetings. He predicts that the Federal Reserve will adhere to a gradual easing approach, starting in September, and gradually cut interest rates by 25 basis points over the next few months. While the possibility of an economic recession in the United States cannot be ruled out, considering the overall strength of the economy and the robust balance sheets of the private sector, even if a recession does occur, it may be mild. DWS does not believe that a Bear Market is imminent, but will closely follow indicators that reflect systemic risks.