The Federal Open Market Committee (FOMC) is set to conclude its two-day meeting on December 18, with a strong expectation that the US Federal Reserve will lower its benchmark interest rate by 25 basis points. This move would represent the third consecutive rate cut, bringing the federal funds rate to a target range of 4.25%-4.5%, down from the current 4.5%-4.75%. While the market anticipates this reduction with a 99% probability, the focus will shift to Federal Reserve Chair Jerome Powell's comments during the post-meeting press conference, as his remarks are likely to provide critical insights into the Fed's outlook on the economy and future monetary policy.

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