At the halfway point of the trading day on Wall Street, investors are calm and eagerly awaiting the Federal Reserve’s decision on interest rates. The Federal Open Market Committee (FOMC) is expected to release its policy statement at 2 p.m. ET, followed by Chair Jerome Powell’s speech at 2:30 p.m. While it is widely predicted that the Fed will keep its fed funds target range steady at 5.25%-5.5%, there is increasing anticipation surrounding the release of new economic projections. Market participants are particularly focused on the “dot plot,” which reveals the preferred interest rate trajectory within the Fed board. This information will help determine whether the central bank’s policies align with or deviate from the market’s expectation of five rate cuts by 2024. So far, U.S. major indices have traded relatively flat, with the U.S. dollar remaining stable, Treasury yields decreasing slightly, and various assets experiencing small gains or losses. Crude oil prices, however, have risen by 1.2%. Overall, there is a cautious atmosphere as investors await the Fed’s decision.