Royal Bank of Canada continues to expect the United States to normalize rather than decline, and the Federal Reserve will cut interest rates by 25 basis points in September. The Fed's Summary of Economic Projections (SEP) is expected to show a median rate cut of 75 basis points this year, up from the 25 basis points expected in July, which is consistent with the bank's forecast. Beyond that, the bank believes that Fed Chairman Powell's remarks are likely to remain cautious - hinting at future rate cuts without committing to a predetermined path to allow for greater flexibility in future decisions. (Jinshi) #DYOR42711