The Federal Reserve is expected to cut interest rates by 25 basis points in December, but due to the pessimistic outlook on future inflation control, the Fed's stance has turned hawkish.
According to the median estimate of the FOMC for the benchmark interest rate by the end of 2025, the benchmark interest rate is expected to be lowered 2 more times next year (by 25 basis points each time), which is below the market expectation of 3 rate cuts; while the probability of a rate cut in January next year is only 6.4%.