Investment bank Stifel economist Lindsey Piegza stated that the Federal Reserve is about to pause its policy adjustments, as recent comments from President Waller reflect that stricter standards are forming in this regard. Federal Reserve officials are increasingly focused on whether economic data exceeds expectations, rather than just looking at strong economic performance. If the economy continues to show significant resilience next year, the Federal Reserve may face challenges regarding potential rate cuts. I expect three more rate cuts next year, bringing rates closer to neutral levels, reducing the rate to 3.75% by the third quarter, which is a reasonable neutral level. As for this year, if December's data meets expectations, I believe the Federal Reserve will implement a third round of rate cuts.