【JPMorgan: Trump's Victory Could Prompt the Fed to Pause Rate Cuts as Early as December】Golden Finance reports that David Kelly, Chief Global Strategist at JPMorgan Asset Management, stated that if Trump wins the U.S. election this week, the Fed may pause its easing cycle as early as December. This is because Trump's expansionary fiscal policy plans would drive up inflation and prevent interest rates from falling. Kelly pointed out that if the Republicans achieve a significant victory with Trump's win, more expansionary fiscal policies could emerge, potentially triggering trade wars and widening the deficit, leading to higher interest rates. On the other hand, Kelly noted that if Vice President Harris wins, the economy may continue on its soft landing path. In this scenario, the Fed may stick to its expected easing policy trajectory.