Gate News Report, April 18 — UBS analysts expect the Federal Reserve to cut interest rates by a total of 50 basis points by the end of 2026; at the same time, the bank maintains its view that despite recent increases in energy prices, the process of monetary easing is still progressing as planned. According to a UBS research report, Federal Reserve Chair Jerome Powell stated that the needed tightening is limited and pointed out that as long as inflation expectations remain under control, supply shocks like rising oil prices are usually not overreacted to. Before proceeding with rate cuts, the Fed is seeking more evidence that core inflation is continuing to decline. UBS forecasts that the 2-year U.S. Treasury yield will reach 3.25% by year-end, and the 10-year U.S. Treasury yield will reach 3.75% by year-end, noting that considering current yields are still above levels prior to the escalation of geopolitical tensions, there is room for further decline.