Fed mouthpiece: Growing divisions within the Fed over a December rate cut

Odaily Planet Daily reports: Nick Timiraos, the "Federal Reserve mouthpiece," says that internal divisions within the Federal Reserve have cast a shadow over the path to interest rate cuts. Such a level of disagreement is unprecedented during Fed Chairman Powell's nearly eight-year tenure. Officials are divided on whether persistent inflation or a sluggish labor market poses a greater threat, and even resuming official economic data may not bridge the gap. While investors still believe a rate cut at the Fed's next meeting is highly likely, this split has complicated plans that seemed feasible less than two months ago. (Jinshi)