Federal Reserve spokesperson: FOMC does not fully endorse the market's pricing for a rate cut in December

ChainCatcher news, "Fed's mouthpiece" Nick Timiraos comments on Fed Chair Powell's speech, stating: "Powell's press conference indicates that the FOMC does not generally agree with the market's previous high pricing for a rate cut in December."

Powell stated: "There is a great deal of disagreement about how to act in December." He emphasized that a rate cut in December "should not be viewed as a done deal. In fact, far from it." This goes beyond their usual disclaimer that "policy does not proceed along a preset path," and is clearly an effort to regain some policy flexibility to avoid being forced into a specific action. What if there is no government data to help clarify the economic situation? Powell pointed out that this means there is a "very high degree of uncertainty, which could be a reason for cautious action." (Jin Shi)