On March 11th, institutional analysts pointed out that the Federal Reserve will not cut interest rates at next week's policy meeting, but if the recession fears caused by the trade war intensify and come true, it may start a series of rapid rate cuts in June. At least in the futures market, there is an increasing number of contracts betting that the Federal Reserve will cut interest rates by 25 basis points each in June, July and October, a trend that followed President Trump's remarks on a "transition period" last weekend as he imposed tariffs on many countries. U.S. stock and Treasury yields also fell on Monday on concerns that his remarks herald an impending recession. " Despite the apparent calm, if the labor or financial marekt starts to slide before the Fed has had time to assess the impact of tariffs, and the overall Trump agenda, on inflation, [Fed policymakers] are increasingly concerned about the rising risks of the dual mandate and their ability to withstand pressure from US President Donald Trump to cut interest rates, "Tim Duy, chief US economist at SGH Macro Advisors, wrote in a note." A slow-to-respond Fed will invite the ire of the Trump administration. "