[Huatai Securities: The Federal Reserve is expected to raise interest rates again by 25bp at its December meeting] On October 29, Huatai Securities Research Report stated that at the October meeting, Warsh gave better communication on the Federal Reserve’s decision to keep interest rates unchanged, and long-term bond interest rates have basically remained stable. Looking forward, maintaining the previous view, the Federal Reserve will raise interest rates again by 25bp at its December meeting. On the one hand, forward-looking indicators indicate that non-farm payrolls may be weak in October, but may pick up by the end of the year; while there is a risk of escalation in the U.S.-Iran conflict, oil prices are at high levels, and short-term inflationary pressures are high. On the other hand, although financial conditions have tightened recently, Warsh believes that the current credit conditions can hardly be called "tightening", which means that the Federal Reserve may further raise interest rates, which is also consistent with the guidance of the September dot chart.