As expected by the Federal Reserve, I think it is unlikely that inflation will return to 2% by the end of the year. I think it will slowly approach the 2% target, but interest rates fell in the process and stock prices rebounded. Then, in the 2nd Q3, corporate performance became on a downward trend, and stock prices fell. The market expects interest rate cuts against the FED, but doesn't Mr. Powell dislike the rekindling of inflation and stick to maintaining the FF rate by the end of the year? I feel it.
After that, if the economy and unemployment rate become really bad next year, I think they will raise the economy and stock prices by cutting interest rates just before the presidential election.