1. No one uses interest rate hikes as a basic hypothetical scenario. The market believes that it is either to keep interest rates unchanged or to cut interest rates. 2. Due to the impact of tariffs, inflation is still “rising”, and inflation is still at a high level. If the tax factor is left aside, the inflation rate is low at around 2%. 3. The data shows that the unemployment rate has risen slightly, and employment growth has slowed significantly. Artificial intelligence may be one reason for weak employment, but it is not the main reason. 4. It has been moving in the direction of a neutral interest rate, and is now at the high end of the neutral interest rate range. 5. In order to ease the pressure on the money market, the scale of treasury bond purchases is likely to remain at a high level in the next few months. The scale of debt purchases is expected to decline thereafter. 6. The real estate market is facing major challenges. Housing construction has been insufficient for a long time, and the 25 basis point reduction in the federal funds rate may not have much impact on housing affordability. 7. The nomination process for the chairman of the Federal Reserve will not hinder current tasks, and there are no new plans for the Federal Reserve chairman after the term of office expires. 8. The Supreme Court will not comment on the case of Federal Reserve Governor Cook. 9. The Federal Reserve is on the sidelines when deciding on future monetary policy decisions.

1. No one uses interest rate hikes as a basic hypothetical scenario. The market believes that it is either to keep interest rates unchanged or to cut interest rates. 2. Due to the impact of tariffs, inflation is still “rising”, and inflation is still at a high level. If the tax factor is left aside, the inflation rate is low at around 2%. 3. The data shows that the unemployment rate has risen slightly, and employment growth has slowed significantly. Artificial intelligence may be one reason for weak employment, but it is not the main reason. 4. It has been moving in the direction of a neutral interest rate, and is now at the high end of the neutral interest rate range. 5. In order to ease the pressure on the money market, the scale of treasury bond purchases is likely to remain at a high level in the next few months. The scale of debt purchases is expected to decline thereafter. 6. The real estate market is facing major challenges. Housing construction has been insufficient for a long time, and the 25 basis point reduction in the federal funds rate may not have much impact on housing affordability. 7. The nomination process for the chairman of the Federal Reserve will not hinder current tasks, and there are no new plans for the Federal Reserve chairman after the term of office expires. 8. The Supreme Court will not comment on the case of Federal Reserve Governor Cook. 9. The Federal Reserve is on the sidelines when deciding on future monetary policy decisions.