Key Points
- Fed Chair Jerome Powell will have to steer his way through a suddenly very contentious atmosphere among policymakers that will make whichever direction the Fed chooses divisive.
- While Wall Street economists were split over whether the FOMC will in fact approve another reduction at the Dec. 9-10 meeting, they were in agreement that this is a pivotal moment for Powell.
- Despite Powell’s comments, traders are still expecting another cut in December.
