East China Securities: Expects the Federal Reserve to cut interest rates by 25bps in December, with a more hawkish guidance.

Odaily Planet Daily News, Dongwu Securities research report stated that we expect the FOMC of the Federal Reserve to cut interest rates by 25bps to [4.25, 4.5]% in December. The new dot plot may raise the 2025 policy interest rate guidance by 25-50bps. Fed Chairman Powell may give more hints of a pause in rate cuts at the press conference, weakening market expectations of a rate cut in January next year. Looking ahead, we expect the Federal Reserve to cut interest rates by 25bps in March and June 2025, but there is a risk of pausing the rate cuts in the second half of 2025. (Golden Ten)