This week, the Fed will hold a highly anticipated Federal Open Market Committee (FOMC) meeting. JPMorgan expects that the committee may keep the target range for the federal funds interest rate unchanged at 4.25%-4.50%. Since no new dot plot will be released at this meeting, the market focus will be on the post-meeting statement and any potential dovish dissenting votes.

It is worth noting that if both Waller and Bowman vote against, it will be a rare occurrence since December 1993 where two committee members simultaneously cast opposing votes. This potential situation reflects the possible divergence within the Fed regarding the direction of monetary policy.

Against the backdrop of a complex and ever-changing global economic situation, the results of this FOMC meeting will have a significant impact on the financial markets. Investors and analysts are closely following the meeting outcomes to assess the Fed's latest views on inflation, employment, and economic growth, as well as the potential direction of future monetary policy.

As the meeting approaches, market participants are weighing various possible outcomes and their impacts on different asset classes. Regardless of the final decision, this FOMC meeting will undoubtedly provide important clues for the direction of monetary policy in 2023 and may have far-reaching effects on global financial markets.