The Federal Open Market Committee (FOMC) is scheduled to meet next week, with its rate decision and press conference set for Wednesday afternoon. It is widely expected that the committee will maintain the overnight target range at 4.25% to 4.50% for the fifth consecutive meeting.

A key point of interest is whether the vote will be unanimous. Fed Governors Michelle Bowman and Chris Waller have both indicated that a July rate cut may be appropriate. If they dissent, it will mark the first time in over 30 years that two sitting governors cast dissenting votes.

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