Fed Chair Jerome Powell threw cold water on investor hopes for another interest rate cut in December, stressing that the Federal Open Market Committee remains deeply divided and that the road ahead is clouded by data gaps and conflicting risks between the central bank’s objectives.
Speaking after the central bank lowered rates by 25 basis points to 3.75%-4.00% for the second straight meeting, Powell cautioned that another cut is “not a foregone conclusion—far from it,” pushing back against expectations that had built up across financial markets in recent weeks.
