"How Many Rate Cuts Next Year?"... Market Focused on This Week's US FOMC Dot Plot

The Federal Reserve (Fed) will hold the Federal Open Market Committee (FOMC) meeting on the 17th and 18th to decide on the benchmark interest rate. The market expects the Fed to cut rates by 0.25% points (baby cut).

With the Fed's baby cut being likely, the market is focusing on the dot plot that will show the pace of next year's rate cuts by the Fed. Foreign media expect the Fed to suggest 3-4 rate cuts next year through this dot plot announcement. Morgan Stanley predicts that the Fed will propose four rate cuts next year.

Jerome Powell, the Fed Chairman, reiterated his cautious approach to monetary policy decisions at the DealBook Summit event on the 4th, stating, "The U.S. economic situation is remarkably good."

The price direction of Bitcoin (BTC), which has been hovering after surpassing the $100,000 mark, is also expected to be determined by the Fed's rate decision and dot plot announcement. On the 14th (local time), Bitcoin is trading at around $102,300 on the Binance Tether (USDT) market, up 0.6% from the previous day.