The Fed's commitment to rate cuts may make it more difficult to deliver, although some Fed officials are trying to maintain the prospect of another rate hike, the main message from the central bank is that its next move will be a rate cut. However, the more moderate the Fed's stance, the looser the financial environment will be, and the more difficult it will be for the Fed to cut interest rates. Once the rate cut plan is mentioned, bond yields will immediately decline, effectively achieving a quasi-rate cut effect - when in fact the Fed does not intend to cut rates in the next 3 to 6 months.