Tonight's 25bp rate cut by the Fed is largely priced in, but the market currently leans towards a hawkish cut. According to Jinshi Data's analysis: the market, institutions, and voting members are all sending the same signal—a rate cut will occur, but not with much of a dovish message. Key points to watch: ① How will the dot plot be revised? Almost all institutions believe the 2026 rate cut path will be revised downwards; this is the most crucial forward-looking signal. ② How hawkish will Powell be? Will Powell continue his hawkish stance, or will he change his tune and become dovish? Summary: The rate cut itself isn't the suspense; the suspense lies in whether things can continue as expected after the cut. 🫡