Wall Street banks are focusing on how to explain the next policy path if the Federal Reserve raises interest rates today: Barclays Bank: It is expected that Walsh will emphasize steady economic growth, close to full employment, and that the level of inflation is still too high, generally continuing the previous hawkish stance. Bank of Montreal: I think Walsh will not make a clear commitment to subsequent interest rate hikes, and characterizes the current moderate tightening policy as a risk management and control method to avoid the need for larger interest rate hikes in the future. Bank of America: Reminds that Walsh is facing a difficult balance. If a signal of continuous interest rate hikes is released, the market may price an austerity of more than 100 basis points; however, dovish interest rate hikes will also weaken the market's confidence in the Federal Reserve's 2% inflation target. Citibank: It is not expected to add too many forward-looking guidelines. Walsh will restate that inflation is still a problem, and there is still work to be done. Deutsche Bank: I want clear information on how much additional austerity is needed. Walsh may describe the current policy cycle as reversing the 75 basis point risk-hedging interest rate cut last year and returning the policy to a sufficiently restrictive level. Goldman Sachs: It is expected that Walsh will emphasize careful evaluation of new economic data, or wait for multiple inflation reports to be released before deciding on the next policy action. J.P. Morgan Chase: Disclosure of policy details is expected to be limited, but compared to previous press conferences, Walsh may focus more on economic data. Nomura Securities: It is expected that no clear guidance on the next policy will be given, and the policy direction will be highly dependent on monthly inflation data. Standard Chartered Bank: The market will focus on examining tariffs and inflation issues, whether the impact of tariffs is temporary, and whether the Federal Reserve should wait for more clear evidence before further tightening its policies. TD Bank: I think if the Federal Reserve raises interest rates today, it is likely that there will be austerity in the future, and Walsh will face greater pressure to communicate. UBS: It is expected that the forward-looking guidance will not include much content, but the interest rate hike itself will enhance the persuasive power of Walsh's hawkish rhetoric.

Wall Street banks are focusing on how to explain the next policy path if the Federal Reserve raises interest rates today: Barclays Bank: It is expected that Walsh will emphasize steady economic growth, close to full employment, and that the level of inflation is still too high, generally continuing the previous hawkish stance. Bank of Montreal: I think Walsh will not make a clear commitment to subsequent interest rate hikes, and characterizes the current moderate tightening policy as a risk management and control method to avoid the need for larger interest rate hikes in the future. Bank of America: Reminds that Walsh is facing a difficult balance. If a signal of continuous interest rate hikes is released, the market may price an austerity of more than 100 basis points; however, dovish interest rate hikes will also weaken the market's confidence in the Federal Reserve's 2% inflation target. Citibank: It is not expected to add too many forward-looking guidelines. Walsh will restate that inflation is still a problem, and there is still work to be done. Deutsche Bank: I want clear information on how much additional austerity is needed. Walsh may describe the current policy cycle as reversing the 75 basis point risk-hedging interest rate cut last year and returning the policy to a sufficiently restrictive level. Goldman Sachs: It is expected that Walsh will emphasize careful evaluation of new economic data, or wait for multiple inflation reports to be released before deciding on the next policy action. J.P. Morgan Chase: Disclosure of policy details is expected to be limited, but compared to previous press conferences, Walsh may focus more on economic data. Nomura Securities: It is expected that no clear guidance on the next policy will be given, and the policy direction will be highly dependent on monthly inflation data. Standard Chartered Bank: The market will focus on examining tariffs and inflation issues, whether the impact of tariffs is temporary, and whether the Federal Reserve should wait for more clear evidence before further tightening its policies. TD Bank: I think if the Federal Reserve raises interest rates today, it is likely that there will be austerity in the future, and Walsh will face greater pressure to communicate. UBS: It is expected that the forward-looking guidance will not include much content, but the interest rate hike itself will enhance the persuasive power of Walsh's hawkish rhetoric.