中信证券：预计美联储年内将连续降息三次 每次25bps

Core Viewpoint - The report from CITIC Securities indicates that U.S. inflation in July was largely in line with expectations, with tariffs continuing to moderately push up prices, although at a slightly slower pace compared to the previous month [1] Group 1: Inflation and Tariffs - Tariffs are expected to have a more moderate and prolonged impact on prices due to a slower pass-through to consumers [1] - The rebound in service inflation does not show significant signs of a slowdown in service consumption demand [1] Group 2: Economic Outlook - The increase in rental vacancy rates and a slowdown in labor demand suggest a more stable outlook for service inflation [1] - The company now anticipates that the Federal Reserve will implement three rate cuts within the year, each by 25 basis points [1]