Jin10 data reported on May 8th that investors are struggling to cope with the uncertainty of the economic impact of Trump’s tariffs, and now they face the possibility that the chaotic trade backdrop means the path of monetary policy remains undecided. ClearBridge senior investment strategist Josh Jamner stated that what investors dislike the most is uncertainty, and the Federal Reserve (FED) cannot provide them with certainty. Robert Christian, head of portfolio management at Franklin Templeton, noted that Powell, like other investors, is just waiting to see how things develop. Ed Al-Hussainy, senior interest rate strategist at Columbia Threadneedle Investments, mentioned that the Federal Reserve (FED) will not take action until at least September. For the Federal Reserve (FED) to start taking action before September, there needs to be some sharply deteriorating conditions; by September, we will at least have a clearer understanding of the direction.