The Fed's internal consensus mechanism is facing collapse, and the outlook for interest rate cuts is unclear.

According to ChainCatcher news and reports from Jin10, “Fed mouthpiece” Nick Timiraos wrote that Trump is expected to appoint a new Fed chairman in May next year, after which interest rates will significantly decline. However, opposition within the Fed to a rate cut in December is growing louder, and Powell is facing the most serious internal resistance in nearly eight years of his term. Evercore ISI economist Krishna Guha stated that the decision-making process is breaking down, and the committee may see severe divisions next year, with three or more dissenting votes possible in the December meeting.