The financial markets are closely watching the upcoming Federal Reserve meeting scheduled for May 1, amid expectations that there could be a reduction in the federal funds rate during this period.

However, recent market predictions are veering away from the likelihood of a rate cut.

Adding to these speculations, Cleveland Federal Reserve President Loretta Mester has voiced her scepticism, further diminishing hopes for a decrease in the near future.

This situation has led to a noticeable decline in market optimism regarding potential rate cuts by the U.S. central banking authority, leaving investors and analysts eagerly awaiting the outcome of the Fed's decision.