The US Federal Reserve will keep interest rates unchanged at 5.25-5.5% on Wednesday and will indicate that September is the earliest opportunity to seriously consider an interest rate cut. The main focus will be their updated dot plot, which outlines the individual members’ views on the path for interest rates. In March, they signalled that three rate cuts for the year remained their central view, with three further cuts in 2025. There had been a sense they could have instead opted for just two rate cuts in 2024 in the wake of two consecutive 0.4%MoM core CPI prints and ongoing strong jobs numbers, but they decided ... (full story)