According to a Bloomberg survey, economists expect the Federal Reserve to cut its policy rate by 25 basis points in the third quarter of 2027. The timing has been pushed back by one quarter from last month's survey, contrasting with the views of some Fed officials and market participants who suggest a rate hike is possible. A growing number of Fed officials see the need for a rate increase in 2026, and financial markets have begun pricing in a hike as early as September. The survey of 80 economists was conducted from July 17 to 22.