Macro Forecast: The pace of Fed rate cuts may slow down, and many Fed officials will speak intensively

Wall Street ended the highly anticipated Fed Week, with U.S. stocks hitting record highs as the prospect of further rate cuts boosted corporate earnings prospects, according to PANews. Despite a temporary respite calls after the S&P 500 rebounded nearly $15 trillion from its April low, bullish sentiment still prevailed. The following are the key points that the market will focus on in the new week: On Monday, FOMC Permanent Voting Committee and New York Fed Chairman Williams delivered a speech on monetary policy and economic outlook; in 2025, FOMC Voting Committee and St. Louis Fed Chairman Mousalem delivered a speech on the US economic outlook and monetary policy. On Tuesday, FOMC Voting Committee and Cleveland Fed Chairman Hamak delivered a speech on the US economy in 2026; FOMC Voting Committee and Richmond Fed Chairman Barkin delivered a speech on the economic situation in 2027; FOMC Voting Committee and Atlanta Fed Chairman Bostic delivered a speech on the economic outlook in 2027. On Thursday, the 2027 FOMC voter and San Francisco Fed Chairman Daley delivered a speech; the 2025 FOMC voter and Chicago Fed Chairman Goulsby delivered a speech; the FOMC permanent voter and New York Fed Chairman Williams delivered a welcome speech at the fourth annual meeting on the international role of the US dollar. On Friday, Federal Reserve Director Barr delivered a speech on the bank's stress test; FOMC voter and San Francisco Fed Chairman Daley delivered a speech; FOMC voter and Richmond Fed Chairman Barrkin delivered a speech; Federal Reserve Director Bowman delivered a speech. Although the Fed implemented a 25-bp rate cut as expected, the latest dot chart predicts that only two more interest rates will be cut this year, marking a slowdown in easing. This is in stark contrast to the aggressive loose path that the market had previously expected. Marc Chandler of Bannockburn Forex noted that the market had been pricing the more dovish Fed, and the relatively tight stance forced the market to readjust its strategy.