Wall Street Holds Breath for Fed Rate Decision Amid Hawkish Cut Fears

• Wall Street traders are cautious ahead of the Federal Reserve's final interest-rate decision of 2025.
• The S&P 500 ended little changed, while JPMorgan Chase & Co. fell over 4% after warning of higher costs.
• Money markets anticipate a quarter-point rate cut tomorrow, followed by about two more cuts in 2026.
• Concerns exist about a "hawkish cut" where the Fed lowers rates but signals an end to the cutting cycle.
• Global central banks, including Australia and the ECB, are signaling an end to easing cycles, adding pressure to bond markets.

Why It Matters: The Fed's upcoming rate decision will dictate market direction and investor returns.