The main event is here. At 2:00 AM Beijing time on Thursday, the Federal Reserve will announce its interest rate decision and the latest Summary of Economic Projections (SEP). Following that, Federal Reserve Chairman Jerome Powell will hold a press conference at 2:30 AM.

The market widely expects the Federal Open Market Committee (FOMC) to keep the interest rate unchanged at 4.25%-4.5%. The latest Reuters survey shows that out of 105 economists surveyed, 103 expect the rate to remain unchanged, while 2 expect a 25 basis point cut.

In the same survey, 59 out of 105 economists predict that the Federal Reserve will resume rate cuts in the next quarter (possibly in September), while 60% of economists expect two rate cuts this year, which is consistent with the median of the dot plot from March, and aligns relatively well with the pricing in the money market, which anticipates a 46 basis point easing by the end of the year. #美联储FOMC会议