ChainCatcher news, Kerry Craig, global market strategist at JPMorgan Asset Management, stated in a report that the Federal Reserve has signaled a more cautious approach to the easing cycle. Craig noted that Powell has communicated well by balancing the "urgency of returning to neutral interest rates" with the acknowledgment of a "relatively stable economic state."Craig added that the focus has also shifted more towards an employment-first approach rather than inflation. The scale of interest rate cuts may be less important than the ultimate goal, which is to lower rates by an expected 150 basis points by the end of 2025 and adjust the policy rate closer to the Fed's neutral view by 2026. Craig stated that if nominal growth and the easing cycle remain stable, both stocks and bonds should benefit. (Jin Shi)