【JPMorgan delays the expected time for the first rate cut by the Federal Reserve to September】Caixin, May 8th - JPMorgan economists cited "lack of progress in inflation" and postponed the expected time for the first rate cut by the Federal Reserve from July to September. They still expect three rate cuts this year, each by 25 basis points. Economists such as Ellen Zentner, Sam Coffin, and Diego Anzoategui stated in their report that the lack of progress since the beginning of the year means that Fed policymakers need more time to be sure that inflation is steadily falling towards the target of 2%. They expect that the core PCE at both the three-month and six-month annual rates will be "close to or below" 2% by the end of the year. In this case, it will be "too late" to cut interest rates after September.