[Macquarie: Fed May Resume Rate Hikes in Q4 This Year, Benchmark Rate May Have Reached 'Normalization' Level] According to a report by Golden Finance, although the market unanimously expects the Federal Reserve to hold steady this week, it is believed that the broader direction of Fed policy adjustments moving forward will still be rate cuts. However, internationally renowned investment bank Macquarie's North American economists David Doyle and Chinara Azizova believe the Fed's next move may be to raise the benchmark interest rate, possibly in the fourth quarter of this year. They pointed out that the Fed's benchmark rate may have already reached a 'normalization' level. Macquarie is not the only investment bank predicting that the Fed's next rate adjustment will be a hike. Earlier this month, JPMorgan revised its forecast, stating that it expects the Fed to maintain its rate target at 3.5% to 3.75% this year and raise rates by 25 basis points in the third quarter of 2027.