Golden Finance reported that Kathy Bostjancic, chief economist of Transamerica Life Insurance Company, said that the focus next year will be Trump. Based on our forecast of underlying disinflationary trends, particularly in services, we expect the Fed to cut interest rates by another 75 basis points next year. However, depending on the magnitude of tariff increases and specific import targets, headline inflation could be higher than our baseline forecast, which could lead to the Fed cutting rates less than we expect.