Wall Street is eyeing Mr. Powell's speech for any hint of the "next" after the Fed cut interest rates for the first time this year last week, with investors hoping he will give more clues today about how much the Fed intends to cut rates. Mr. Powell is due to give an economic forecast speech at 00:35 tonight. The market forecasts that the Federal Reserve will cut its benchmark short-term interest rate by 2% at each of its last two meetings in 2025, in October and December.