Fed watchers expect Powell to build consensus around small rate cut

Investors are expecting Fed Chairman Jerome Powell to cut interest rates by 25 basis points this week to keep the rate cut program on track despite some stubborn signs of inflation and mixed signals about the job market. "This week's FOMC meeting was a refreshingly simple decision, and the case for a rate cut remains valid," Michael Feroli, chief economist at JPMorgan Chase, said in a report. Fed watchers expect Powell to build a consensus around a small rate cut after a big one in September. (Jinshi)