[If February's non-farm payroll data is mediocre, the Federal Reserve's rate cut expectations will extend to the third quarter] Odaily Planet Daily News: U.S. February ADP employment figures and ISM non-manufacturing PMI both exceeded expectations, indicating that the job market, which the Federal Reserve is more concerned about, is trending toward stability. Additionally, the Federal Reserve has previously signaled that it is not in a hurry to cut rates. Coupled with the impact of the war driving domestic energy prices to surge, the market's expectation for the next rate cut has already been postponed to around September. If February's non-farm payroll data turns out to be mediocre or overshadowed by the war, under the foreseeable scenario of inflation rebound, the market's expectation for the timing of the Federal Reserve's first rate cut will extend to the third quarter.