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