[CICC: No Fundamental Basis for Continuous and Significant Fed Rate Hikes] Jin10 News, September 17 – A research report by CICC states that, based on the Fed's statements at this meeting and the current fundamentals, there is no basis for continuous and significant rate hikes (three times or more), unless oil prices spiral out of control in the future. High interest rates themselves will gradually transmit to financial conditions, thereby suppressing economic growth, which becomes a 'reflexive' factor hindering further significant rate hikes. For instance, the current 30-year mortgage rate in the U.S. is already approaching 7%.