According to BlockBeats, Nicholas Colas, co-founder of DataTrek Research, highlighted that U.S. Federal Reserve Chair Jerome Powell is unlikely to announce a rate cut following this week's policy meeting. This approach mirrors the pattern of his three predecessors, Alan Greenspan, Ben Bernanke, and Janet Yellen, who all concluded their terms with a hawkish stance. Powell is continuing this tradition, aiming to maintain his anti-inflation credibility and political independence upon leaving office.
The market anticipates that the Federal Reserve will keep interest rates steady in June and July. However, it may signal its intentions this week by revising economic and interest rate forecasts. Historical data indicates that the S&P 500 index rose an average of 16% during the final 12 months of the previous three Fed chairs' terms.