PANews reported on September 17th that, according to Jin10, lowering short-term interest rates from high levels is like moving a piano downstairs. This operation requires careful consideration and is best done gradually. This is an analogy used by JPMorgan Chase's chief global strategist David Kelly in his latest report regarding the Federal Reserve's decision this week. The policy path will be conveyed to the market through the Summary of Economic Projections, the FOMC statement, Powell's press conference, and the closely watched "dot plot." Therefore, Kelly has analyzed these key aspects to explore the possible direction of short-term interest rates. Kelly points out that one of the biggest risks facing the economy and markets currently is that the Fed's overly aggressive actions or overly negative rhetoric could increase the risk of the economy falling into recession. However, he believes that the Fed is capable of avoiding this situation. He predicts that the Fed will cut rates by 25 basis points, rather than 50 basis points, and emphasize the achievement of inflation control in the process, rather than concerns about economic growth.