Why is it a good thing that the market returns to being dominated by the Federal Reserve?

Answer: The Federal Reserve manages expectations and communicates with the market through various methods (including the previously mentioned Federal Reserve 'mouthpiece') to achieve a common ground with actual market prices, thereby reducing severe market fluctuations.

A specific example can be referenced from this month, the March FOMC meeting, where the market had already priced in the expectation that interest rates would remain unchanged, so the Federal Reserve would definitely not lower or raise interest rates in March. Similarly, if the market fully prices in the expectation of a rate cut in June, then the Federal Reserve will cut rates in June.

It is important to note that this does not mean the market influences the Federal Reserve's decisions; on the contrary, all expectations and pricing in the market are managed step by step by the Federal Reserve.

Please be sure to understand the causal relationship in this matter

Because the market has once again returned to the logic of the Federal Reserve.