According to Bloomberg's survey of economists, around 80% of respondents expect the Fed to take action, albeit reducing rates by only 25 basis points, during its upcoming meeting in September. This prediction diverges from some Wall Street banks' anticipation of a more substantial cut. Approximately four-fifths of the surveyed economists believe that the federal funds rate will be adjusted within the range of 5% to 5.25%. Moreover, economists generally agree that there is only a 10% chance of any rate adjustments before the next scheduled meeting. They all anticipate that the Fed will continue to lower rates by 25 basis points each month until the first quarter of 2025. The survey was conducted between August 6th and 8th when global financial markets were experiencing turmoil.