UBS Group stated that the Federal Reserve's next interest rate move will be guided by economic data. Although the global major markets have reacted negatively to changes in the Federal Reserve's interest rate cut cycle next year, the Federal Reserve will continue to monitor economic conditions and various data before taking any action. UBS Group noted: "We believe that the Federal Reserve still relies on data, and future economic Indicators will continue to play an important role in determining the Federal Reserve's next actions." Key indicators such as the Fed's preferred inflation measure, PCE inflation, will play a critical role in shaping central bank policy, with this data set to be released this Friday. However, UBS Group expects inflation to slow in the coming months, which could affect the Federal Reserve's policy outlook. Additionally, employment data will remain an important factor as the Federal Reserve assesses the strength of the labor market and the overall resilience of the economy.