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 Federal Reserve may pause its easing cycle as early as December. This is because Trump's expansionary fiscal policy plan will drive up inflation and prevent interest rates from falling. Kelly pointed out that if the Republican Party achieves a resounding victory with Trump's win, there will be more expansionary fiscal policies rolled out, which could trigger a trade war, expand the deficit, and lead to higher interest rates. On the other hand, Kelly indicated that if Vice President Harris wins, the economy may continue on its soft landing path. In this case, the Federal Reserve may stick to its expected easing policy trajectory.