Former Morgan Stanley Asia Chairperson: The Federal Reserve is concerned about the change in risks, and the US stock market may correct

When it comes to expectations for interest rate cuts, Stephen Roach, a senior fellow at Yale University and former chairperson of Morgan Stanley Asia, pointed out that the Federal Reserve will not rush to adjust policy due to political pressure. But on the other hand, the fragility of the labor market, coupled with the disturbance of tariffs, may prompt the Federal Reserve to shift to a more accommodative stance. Although the current risks have changed, the magnitude is not yet dramatic, and its follow-up development will still depend on the performance of future data. Roach also said that the US economy has shown signs of slowing down, and consumption growth is only half the average rate of the past few years. In addition, the investment boom in the AI field hides the risk of bubbles, and the market value concentration of the "Big Seven" of US stocks has even exceeded the level of the Internet bubble in 2000. " So I think there is likely to be some market correction in the U.S. stock market over the next six months, "he said. (21 Finance)