Analysis of the reasons why the Fed did not cut interest rates in December

1. The US dollar index increased instead of falling

2. The October CPI data ended the 6-month downward trend and officially rose

3. Trump's tariff expectations

4. The US Treasury yield inverted, with the 10-year Treasury yield close to 4.5

5. The US economic data is still strong, and the unemployment rate is low

6. Powell's speech