#美国贸易赤字状况 $XRP $ZEN $ZEC

Wall Street's recent attitude shift is quite interesting — major financial institutions collectively change their tone, pushing back expectations of rate cuts.

What exactly is going on? Originally, Citibank expected rate cuts to start in January, but now they've shifted to March. Goldman Sachs is even more aggressive, jumping straight to June. JPMorgan Chase is the most extreme, outright saying not to expect anything before 2026. These once confident forecasts have suddenly turned into "wait and see."

Why the sudden change? Essentially, it's still the resilience of the US economy exceeding expectations. Employment data remains robust, wages continue to grow, and although inflation has eased somewhat, it still remains high. Even the Federal Reserve itself hasn't shown much urgency.

The market has finally reacted — the era of cheap money truly won't be coming back.

This brings several real consequences. The US dollar is likely to remain strong, putting pressure on commodities and risk assets. High-yield financial products can still enjoy some benefits for a while, but high borrowing costs mean financing remains difficult. Certain sectors of the stock market will also face adjustment pressures.

The upcoming rhythm is clear — the March Federal Reserve meeting becomes the focus, and the spring inflation data will be equally critical. The policy direction in June is also where market bets are placed. But how many times this script can change, no one knows. The days of high interest rates seem to be here to stay for the long term.