In June, there was no interest rate cut. The dot plot shows that the expectation for rate cuts in 2025 is 2 times, and in 2026 it is 3 times.

Compared to the dot plot in March, there is no change for 2025, while the expectation for rate cuts in 2026 has increased by 1 time. This should be within the market's expected range and is not considered bearish.

Next is Powell's speech at 2:30 PM, continuing the live broadcast.

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