ChainCatcher news, according to Jinshi Data, Saira Malik, head of Nuveen Equities and Fixed Income, stated that the overall impact of the tariffs announced so far this year on U.S. real GDP growth could be around negative 1.7%.In a report, Malik mentioned that the tariffs will also cause core PCE to rise by 2.0% this year, a data point favored by the Federal Reserve as an inflation gauge. The latest data for February was 2.8%. Given that the tariffs announced so far have exceeded expectations, Nuveen believes the risks lean towards further rate cuts by the Federal Reserve.Malik stated, "Our probability-weighted guidance has increased from four rate cuts by the Federal Reserve in 2025 and 2026 to 6.6 rate cuts, while our fair value assessment for the 10-year U.S. Treasury yield has decreased from 4.5% to 4.0%."

ChainCatcher news, according to Jinshi reports, "the Federal Reserve's mouthpiece" Nick Timiraos stated that the Federal Reserve's favored inflation indicator, the Personal Consumption Expenditures Index (PCE), showed an increase of 2.2% over the 12 months ending in August, not far from the Federal Reserve's 2% target.A year ago and two years ago, this indicator was 3.4% and 6.6%, respectively. The core PCE (excluding the more volatile food and energy items) rose by 2.7% year-on-year in August. A year ago, the 12-month core inflation rate was 3.8%, and two years ago it was 5.4%.