According to Golden Finance, Kerry Craig, global market strategist at JPMorgan Asset Management, said in a report that the Federal Reserve has signaled a more cautious approach to the easing cycle. Craig stated that Powell communicated well by balancing "the urgency of returning to neutral rates" with acknowledging "the relatively stable state of the economy." Craig added that the focus has shifted more towards prioritizing employment rather than inflation. The size of rate cuts may be less important than the end goal, which is to adjust policy rates closer to the Fed's neutral view by lowering rates by 150 basis points by the end of 2025 and then by 2026. Craig said that stocks and bonds should benefit if nominal growth and the easing cycle remain stable. (Jin Shi)