On July 30, Seema Shah, Chief Global Strategist at Principal Asset Management, said in a report that against the backdrop of three committee members voting against it, the Fed's decision to hold interest rates steady was clearly more of an internal debate than a consensus decision, confirming the delicately balanced market expectations before the meeting. The statement provided little new information, but the dissents sent a clear message: the Fed is not yet convinced that the battle against inflation has been won. Although rate cuts remain unlikely for now, investors cannot rule out the possibility of another rate hike before the end of the year. Principal Asset Management's base case remains that the Fed will hold rates steady through the end of 2026 as underlying inflationary pressures ease, "but confidence in this view is low." (Jin Shi)