Wall Street's main indexes were set for a subdued opening on Monday, following two straight weeks of gains, as focus shifted to a pivotal Federal Reserve meeting that could lay the groundwork for an interest rate cut later this year. The Fed is expected to leave borrowing costs unchanged at a policy meeting on Tuesday and Wednesday, but analysts expect data to show that a growing number of policymakers are open to cutting rates in the coming months. The Fed's policy-setting committee is due to release its statement at 2 p.m. EDT (1800 GMT) on Wednesday, with Powell holding a press conference shortly after.
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