Institution: The market focuses on how the Federal Reserve balances its dual mandate of inflation and employment.

Golden Ten Data reported on March 19 that Kelly Kowalski, Head of Investment Strategy at MassMutual, stated that the market will closely watch how the Federal Reserve prioritizes between the two ends of its dual mandate—namely, controlling inflation and achieving maximum employment. She pointed out: "If the Federal Reserve's stance becomes noticeably less accommodative compared to earlier this year and the collaborative phase before this meeting, what kind of resistance might this pose for risk assets?" Nevertheless, she mentioned that the market still expects one rate cut this year.