FOMC Outlook: The Fed is expected to remain on hold, 60% of economists expect two rate cuts this year

Odaily News At 2:00 a.m. Beijing time on Thursday, the Federal Reserve will announce its interest rate decision and the latest Summary of Economic Projections (SEP), followed by a press conference by Fed Chairman Powell at 2:30. The market generally expects the Federal Open Market Committee (FOMC) to keep interest rates unchanged at 4.25%-4.5%. The latest Reuters survey shows that 103 of the 105 economists surveyed expect interest rates to remain unchanged, while another 2 expect a 25 basis point cut. In the same survey, 59 of the 105 economists predicted that the Fed would resume rate cuts in the next quarter (possibly in September), while 60% of economists expected two rate cuts this year, which is consistent with the median of the dot plot in March and is relatively consistent with money market pricing, which expects 46 basis points of easing by the end of the year. (Jinshi)