The U.S. central bank is widely expected to reduce borrowing costs by at least 25 basis points at 2 p.m. ET, a move priced in by investors after a series of economic indicators pointed to a weakening jobs market. Markets will closely watch Chair Jerome Powell’s speech as well as the “dot plot” projections to gauge the extent of interest-rate cuts that could be delivered this year and the next. Market participants are expecting a rate reduction totaling about 68 bps by the end of the year, according to data compiled by LSEG.
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