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Powell Casts Doubt on December Rate Cut, Warns of Divided Fed
Powell Casts Doubt on December Rate Cut, Warns of Divided Fed
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BTCCSquare news:
Stocks plummeted as Federal Reserve Chair Jerome Powell signaled uncertainty about a December rate cut, revealing divisions within the central bank. The Fed's 25 basis point reduction on Wednesday saw rare dissent—Governor Stephen Miran pushed for a deeper 50 bps cut while Kansas City's Jeff Schmid favored holding rates steady.
Powell framed the MOVE as risk management, emphasizing future decisions hinge on labor data and inflation trends. He cited AI's potential to disrupt job markets—a factor not yet reflected in unemployment claims. CME's FedWatch tool now prices December cut odds at 67%, down sharply from 90.5% pre-announcement.
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