According to Jinshi Data, Powell did not provide new forward-looking guidance at the press conference on November 8, and the yield of short-term U.S. Treasury bonds remained almost unchanged. Jackson Garton, co-chief investment officer of Makena Capital Management, said that the probability of the Federal Reserve cutting interest rates in December is more than 50%, but it is not certain. He believes that it is more likely to continue to cut interest rates by 25 basis points at the next meeting.