[Nomura: Under Inflationary Pressure, Fed Rate Cuts May Be Delayed Until September] Nomura has postponed its expectations for Federal Reserve rate cuts to September and December, citing new inflation risks stemming from the Middle East conflict. Jeremy Schwartz, Nomura's Chief U.S. Economist, also noted that the delayed confirmation of Federal Reserve Chair nominee Kevin Warsh is another reason for adjusting the rate cut timeline from the earlier forecast of June and September. Although price pressures are viewed as temporary, the Fed is likely to remain cautious in the near term. However, policymakers still lean toward an accommodative stance. Nomura expects the new Fed Chair to prioritize significant policy easing. He stated: 'Officials of the Federal Open Market Committee (including Chair Powell) maintain an accommodative bias and exhibit an asymmetric response to any signs of labor market weakness.'