The Federal Reserve's rate cut may be lower than expected, with the policy rate endpoint above 3.5%

ChainCatcher news, according to Jinshi reports, Franklin Templeton pointed out that the U.S. economy is growing steadily and consumer spending continues, but inflation concerns may lead the Federal Reserve to lower interest rates less than expected. It is anticipated that the terminal policy rate in this round may be higher than 3.5%, above the market's general expectation of around 3%. In addition, the financial health of U.S. companies has improved, and the default rate is at a low level, maintaining a positive outlook for the non-investment grade bond market.