Institution: The constraint for Federal Reserve interest rate cuts remains inflation, not employment.

```htmlGolden Ten Data reported on June 5 that Jason Pride, Head of Investment Strategy and Research at Glenmede, stated that the Federal Reserve's considerations remain unchanged, and that the constraint for rate cuts is still inflation rather than employment. Although the labor market has not accelerated, its resilience is greater than the level suggested by unadjusted data, which reduces the urgency for the Federal Reserve to take action on employment. Investors should expect the Federal Reserve to keep interest rates unchanged at the next meeting and pay attention to whether post-ceasefire energy relief measures begin to bring down overall inflation.```