Federal Reserve Chair Jerome Powell said further rate cuts were not guaranteed following the latest 0.25% reduction, citing persistent inflation risks and resilient employment data. The statement reduced December easing expectations from 90% to 70%, triggering cautious reactions across futures markets. Policymakers stressed the need for sustained disinflation evidence before pursuing further adjustments. Bond yields steadied as investors reassessed the path of policy normalization. Market analysts described the message as a shift toward data dependency and gradual stabilization.