[Institution: The Fed's Constraint for Rate Cuts Remains Inflation, Not Employment] Jin10 Data, June 5 – Jason Pride, Head of Investment Strategy and Research at Glenmede, stated that the Federal Reserve's approach has not changed; the constraint for rate cuts remains inflation rather than employment. Although the labor market has not accelerated, its resilience is higher than the level suggested by unrevised data, reducing the urgency for the Fed to act on employment. Investors should expect the Fed to keep rates unchanged at the next meeting and focus on whether post-ceasefire energy relief measures begin to lower the overall inflation rate.