Golden Finance reported that IG market strategist Yeap Jun Rong wrote in a report that the trajectory of future interest rate cuts by the Federal Reserve may depend on Trump's policies, which are still unclear at this stage. Yeap said that Trump's initial comments on tariffs sounded very aggressive; however, the extent to which these measures will be implemented is uncertain. As policies become clearer, the Federal Reserve may initially lean towards a shallower rate cut cycle. He added that with the conclusion of the Federal Reserve meeting and the Bank of Japan maintaining interest rates as expected, the U.S. stock market is likely to gradually rise in the last few weeks of 2024. However, Yeap stated that due to a lack of further catalysts, it may not reach new record highs by the end of the year.