Policy Watch Global Markets Research Economics - North America September FOMC Preview Fig. 1: We expect the FOMC to deliver a 25bp rate cut at next week's meeting Jeremy Schwartz - NSI jeremy.schwartz@nomura.com +1 212 667 9637 Aichi Amemiya - NSI aichi.amemiya@nomura.com +1 212 667 9347 Ruchir Sharma - NSI ruchir.sharma@nomura.com +1 212 667 9186 We expect the median dot to remain unchanged in 2025, signaling just two cuts this year. Many officials are likely to lower their rate expectations for this year ...