BlockBeats news, May 9, Sweden's Nordea Bank pointed out that while risks are rising, the Federal Reserve is waiting for more clarity. Trade policies and economic outlooks are seen as extremely uncertain, and the Fed hopes to wait for clearer outcomes. The market interpreted this information as slightly hawkish, further reducing the likelihood of interest rate cuts in the June meeting. We agree with this market shift but expect that the Fed will ultimately focus on supporting economic growth and overlook the temporary rise in inflation. If long-term inflation expectations remain within a controllable range and align with inflation targets, the Fed should be able to ignore the temporary inflation shocks caused by tariffs. There is also a possibility that the short-term impact of tariff uncertainty on the economy will exceed current expectations. However, for now, the Fed believes this move has limited impact on the economy, and there are some signs of progress in trade negotiations. Inflation is still above the target, and due to tariffs, it is expected to begin rising again. (Golden Ten)