1. Nomura: It is expected that Powell will not provide a clear signal on future rate cuts, but may reiterate that the current policy is 'in a good place' and add that the current interest rate is 'within a neutral and reasonable estimated range.' 2. Morgan Stanley: It is expected that Powell will rely on recent strong economic data, stable hiring, and declining unemployment rates to justify the rationale for pausing rate cuts. 3. Bank of America: Powell is expected to adopt cautious language, and investors will closely monitor his assessment of the decline in the December unemployment rate, as well as his views on whether the strong economic growth momentum aligns with a higher neutral rate. 4. Rabobank: Powell may be asked about forward guidance on the timing and conditions for the next rate cut. He is likely to stick to the default stance of 'meeting-by-meeting' and 'data-dependent,' but may further elaborate on the criteria for rate cuts. Powell may also be questioned about his subpoena issue, and he could adopt a tougher stance compared to previous press conferences. 5. Allianz Investment: Market focus will center on Powell's response to recent government challenges to the Federal Reserve's independence, which could have a greater market impact than the rate decision itself. 6. First American Financial: Powell may emphasize that last year's cumulative rate cuts have provided the Federal Reserve with more cautious room for maneuver, while closely monitoring the latest data and broader financing conditions. If inflation continues to ease or if the economic slowdown exceeds expectations, further rate cuts later this year remain possible.