- Meeting and rate cut expectations: The Federal Reserve Policy Committee will meet on September 18, 2024. The market generally expects a cut in the benchmark interest rate, but there are differences on the extent of the cut (50 basis points or 25 basis points). According to the FedWatch tool, the market pricing of a larger rate cut has fluctuated as the meeting approaches, currently at 59%.

- Predictability principle: The Federal Reserve usually reveals actions in advance to avoid financial market surprises and maintains the predictability of monetary policy to stabilize the economy and markets, but recent mixed economic data has led to fluctuations in expectations of rate cuts.

- Difficult decision: The Federal Reserve is preparing to reverse the rate hike campaign that began in March 2022, when the benchmark interest rate was raised to the highest level since 2001 to curb inflation. Now that inflation is falling but the economy is slowing, the unemployment rate is at risk of rising, and different economic reports have different signals on inflation and unemployment threats, leading to differences among policymakers on the extent and speed of rate cuts.

- Future Focus: Perhaps the most important message from this meeting will be about future plans, including the quarterly economic and interest rate projections from FOMC members, which the market looks to for insights into how quickly interest rates will fall in the coming months.