Richard Tang, head of global markets at Management, believes that the Federal Reserve is unlikely to relax monetary policy this year. Tang said that the path of inflation has become very difficult to predict, particularly in the context of the presidential election later this year. The market is currently expecting two interest rate cuts this year. “It is unlikely that the Federal Reserve will be able to cut interest rates this year,” Tang said in an interview with Bloomberg TV on Thursday. “There is a very important presidential election coming up. It will indeed affect policy, so once all of this is considered, the next meeting is almost a 50-50 bet on whether to cut interest rates or raise interest rates.”