PANews reported on September 17 that according to Jinshi, lowering short-term interest rates from a high level is like moving a piano downstairs. This operation needs to be cautious and preferably gradual. This is the figurative metaphor used by David Kelly, chief global strategist at JPMorgan Chase, for the Fed's decision this week in his latest report. The policy path will be conveyed to the market through the Summary of Economic Forecasts, the FOMC Statement, Powell's Press Conference, and the much-watched "Dot Plot". Therefore, Kelly deduced these key links to explore the possible direction of short-term interest rates. Kelly pointed out that one of the biggest risks facing the economy and the market at present is that the Fed may act too aggressively or speak too negatively, which will increase the risk of the economy falling into recession. But he believes that the Fed has the ability to avoid this situation. He predicts that the Fed will cut interest rates by 25 basis points instead of 50 basis points, and in the process emphasize the achievements in inflation control rather than concerns about economic growth.