A new survey conducted among former Federal Reserve insiders indicates that the outlook on interest rates is becoming moderately conservative.

BlockBeats reported on June 17 that insights collected by former The Wall Street Journal economics reporter Jon Hilsenrath from ex-Federal Reserve officials and staff suggest that they anticipate an increase in unemployment and inflation rates in the coming months. This could further complicate the Federal Reserve's decision-making process concerning interest rates. Survey participants indicated that they expect the Federal Reserve to stick with its forecast of two 25-basis-point rate cuts within the year. However, several former officials opined that a single rate cut or even no rate cut might be more appropriate.

The results of this survey come as the Federal Reserve prepares for its policy meeting this week, during which officials are expected to release economic forecasts. This marks the first economic projection release since President Trump announced large-scale import tariffs. Additionally, the federal budget legislation currently progressing through Congress might also be a significant factor influencing the Fed's decisions this week.

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