Analysis: The dot plot suggests one rate cut this year; awaiting Powell's official statement.

Phil Newhart, head of markets and economics research at First Citizens, said investors and markets will be paying particular attention to the median forecast for the federal funds rate at the end of 2026. This is difficult to predict, but we believe the median will continue to indicate only one rate cut for the remainder of the year. In addition to the Federal Open Market Committee's forecasts, the tone of Powell's press conference will be a key variable influencing the market, especially how he will address the contradiction between the recent surge in oil prices and weak labor market data. (Jinshi)