Wall Street Journal Reporter: Many banks have abandoned the prediction of a rate cut in June, and there may be at most two rate cuts this year

Nick Timiraos, the chief economics correspondent for The Wall Street Journal, stated on platform X that the inflation report in March triggered a "jailbreak" among sell-side banks and other Federal Reserve forecasting agencies. They have essentially given up their previous predictions about interest rate cuts in June. At present, most people believe that the first rate cut will not be earlier than the third quarter, and many people tend to think that there will only be one or two rate cuts this year.