The Federal Reserve's rate cut script has no ups and downs! It's still reheating old leftovers!

This time the Federal Reserve has still kept interest rates unchanged! This aligns with market expectations! Regarding rate cut expectations: it remains that there will be two rate cuts this year, with a reduction of 50 basis points.

However, the number of officials hoping for no rate cuts is increasing.

From the Federal Reserve's dot plot: among 19 officials, 7 believe there will be no rate cuts in 2025 (4 in March), 2 believe there should be a cumulative rate cut of 25 basis points by 2025, meaning one rate cut (4 in March), 8 officials believe there should be a cumulative rate cut of 50 basis points by 2025, meaning two rate cuts (9 in March), and 2 officials believe there should be a cumulative rate cut of 75 basis points by 2025, meaning three rate cuts (2 in March).

Sigh, just sleep peacefully, the market will digest the expected negative news and have a slight rebound, then continue to decline. It’s still more reassuring to operate from a higher position. After all, there won't be any strong liquidity injection in the next three months!