📅 When Could a Rate Cut Come? • July 2025: Governor Christopher Waller and Vice Chair Michelle Bowman stated that a rate cut is possible at the July meeting (July 29–30) , given the slowdown in the economy and a significant drop in inflation. • The market sees a probability of a July cut between 23–52% (CME FedWatch data) . • September–December 2025: • Anadolu Agency reports that instead of July, a cut is expected in the second half of the year — especially in September or December (60% probability). • JPMorgan: The view that a cut could only come late, based on stagnant growth and inflatio