[JPMorgan Chase: The Fed hints that it will be more cautious about the easing cycle] Golden Finance reported that Kerry Craig, global market strategist at JPMorgan Asset Management, said in a report that the Federal Reserve has signaled that it will take a more cautious approach to the easing cycle. Craig said that Powell communicated well by balancing the "urgency of returning to a neutral interest rate" and acknowledging the "relatively stable economic state." Craig added that the focus has also shifted more to an employment-first approach rather than inflation. The scale of the rate cut may not be as important as the ultimate goal, which is to adjust the policy rate to a closer view of the Fed's neutrality by 2026 through an expected 150 basis point rate cut by the end of 2025. Craig said that if nominal growth and the easing cycle remain stable, stocks and bonds should benefit. (Jinshi)