If you read the June FOMC previews from major Wall Street banks, they are broadly similar. Everyone expects a less enthusiastic assessment of the economy, several individual dots to show expectations for cuts this year (even if the median dot remains unchanged) and, crucially, a change to the "patient" characterization of policy to reflect vigilance in the face of extreme uncertainty.
Those interested in an expansive preview of the June meeting can find one here, but I want to highlight one quick passage for readers on this platform (and this is me quoting myself,