[Institution: The Federal Reserve Unlikely to Tighten Policy Again in the Short Term, Even If It Does, Likely After 2027] According to Jintou News, TsLombard stated that in the face of oil price shocks, the extent of global central bank policy tightening may be quite limited, and an aggressive tightening cycle is unlikely to occur. In the United States, the Federal Reserve is unlikely to implement policy tightening in the short term, and even if it does, it is almost certain to wait until after 2027. In Europe, the energy shock is already dragging down economic activity. The UK labor market has been unstable for some time, and hiring sentiment in Europe is also becoming increasingly weak. The tightening measures by the European Central Bank and the Bank of England this year will be lower than market expectations, and this possibility is currently underestimated.