2027年FOMC票委、旧金山联储主席戴利：2025年很可能出现两次降息。相信我们正走在通胀率回落至2%的可持续路径上。潜在关税不会引发大规模消费品价格上涨。消费者支出增速放缓，但尚未停止。进口商和零售商在消化部分关税成本。

Group 1 - The FOMC voting member and San Francisco Fed President Daly suggests that there may be two interest rate cuts in 2025 [1] - There is a belief that the economy is on a sustainable path for inflation to return to 2% [1] - Potential tariffs are not expected to cause a significant increase in consumer goods prices [1] Group 2 - Consumer spending growth is slowing down but has not yet stopped [1] - Importers and retailers are absorbing some of the tariff costs [1]