The Fed may announce three rate cuts this year, with Barclays predicting a 25 basis point cut this week.

On September 15, the market widely expects the Fed to cut interest rates by 25 basis points this week, but there is still uncertainty regarding the guidance direction after the policy is implemented.

Marc Giannoni, Chief U.S. Economist at Barclays, stated that against the backdrop of still moderate inflation data, the FOMC will determine that the downside risks to achieving the employment target are increasing.

He added that the Fed's economic forecast report has changed little, but the dot plot will show three rate cuts this year (each by 25 basis points), one rate cut in 2026 and another in 2027, while the long-term interest rate median forecast remains unchanged at 3.0%.