Citi—which anticipates five rate cuts in 2025—has a downbeat forecast for a meager 0.7 percent growth. Bank of America is forecasting an above-consensus 2.4 percent growth for the year, hence their view for no rate cuts. ING, meanwhile, expects two percent growth.

Anxiety over a Chinese startup’s threat to American artificial intelligence dominance faded further Wednesday as investors turned their focus to the Federal Reserve’s rate decision due later in the da