Powell's stance is unknown, and the market assumes support for a rate cut in December

According to Jinshi News, Pepperstone's research director Chris Weston stated that the market is highly focused on the stance of each Federal Reserve voter and their views on a rate cut in December. He believes that, although Powell's viewpoint remains uncertain, it can be assumed that he would support a rate cut in December. The sudden shift in rate cut bets has limited impact on the dollar, and there are still differences among Federal Reserve officials regarding the next steps they might take. Weston pointed out that if interest rates are maintained in December amid a weak labor market and declining inflation expectations, it would seem out of touch, and the market may react poorly.