[Morgan Stanley: Two 25 Basis Point Rate Cuts Expected in 2027] According to a report by Jinse Finance on April 30, Morgan Stanley economists, based on the Federal Reserve's Federal Open Market Committee decision, statement, and press conference on Wednesday, have withdrawn their expectation for a rate cut by the Fed this year. Instead, they now anticipate two 25 basis point rate cuts in 2027. The Morgan Stanley team, led by Michael Gapen, stated in the report: 'The Fed this month signaled a near shift toward symmetric policy rate guidance and emphasized patience. We now expect one rate cut each in January and March 2027, for a total of two rate cuts.'