In June, there was no interest rate cut, and the dot plot indicates that the expectation for interest rate cuts in 2025 is 2 times, and in 2026 is 1 time.

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

Next up is Powell's speech at 2:30 PM, stay tuned for the live broadcast.

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