Powell Poised to Deliver “Three Consecutive Rate Cuts,” Surge in Dissent Could Set Traps for Successor!

The Federal Reserve is expected to implement its third consecutive rate cut of the year this week, but the challenges Chair Jerome Powell faces in rallying his colleagues’ support for this move signal that his successor will face tough tests ahead.

Every rate cut by the Fed this year has been accompanied by dissenting votes, and it is expected that three policymakers will once again cast opposing votes at the Fed’s final meeting of the year.

Confronted with two conflicting goals—persistently high inflation and a continually weakening job market—Powell, a Fed Chair known for building consensus even in difficult times, is now finding this task nearly impossible.

“If there were no disagreement, I’d actually be more worried,” said Loretta Mester, who served as Cleveland Fed President from 2014 to 2024. “The dissenting votes we’re seeing reflect the possibility that the economy could move in different directions.”

Powell’s term as chair is set to expire next May. He enjoys significant respect within the rate-setting committee, but even so, this situation casts doubt on the next chair’s ability to unite all 18 colleagues. $BTC $ETH #十二月行情展望