QCP Capital analysts report a shift in market sentiment from panic to adjustment following the Federal Reserve's recent 25 basis point rate cut. While Fed Chair Powell described the move as risk management, not the start of a deep easing cycle, analysts suggest future rate cuts may be limited unless economic growth slows significantly. Despite robust economic activity and core inflation near 3%, long-term yields have risen due to term premiums and supply pressures, driving stocks and gold to new highs. Gold briefly surpassed $3,700 before retreating, while the dollar rebounded alongside U.S. Treasuries, indicating that shorting the dollar is no longer risk-free. Analysts note that the Fed's policy may remain tight, with potential adjustments relative to the lower neutral rate. However, consumer resilience and slow labor market dynamics allow the Fed to proceed cautiously. With Europe and Japan no longer outperforming the U.S., the dollar may have bottomed out, while gold and Bitcoin reflect skepticism about a return to hawkish policies.