French Bank: Lowering interest rates is Powell's easiest task today.

[Societe Generale: Lowering interest rates is Powell's easiest task today] For the Fed, restarting interest rate cuts in this critical meeting this week may just be the easiest part to accomplish. James Egelhof from BNP Paribas stated that in addition to cautiously formulating monetary policy between sticky inflation and a weak labor market, Fed Chairman Powell also needs to deal with the "increasing instability within the Federal Open Market Committee" and "try to cool things down". Trump has been calling for significant rate cuts, and now the three officials he appointed have joined the committee. Egelhof expects Powell to "strive to achieve an extremely cautious balance to show that everything is normal." He pointed out that how to handle political pressure may become the decisive factor pushing the Fed to tilt its policy focus towards "weak labor market." BNP Paribas expects the Fed to initiate a series of 25 basis point rate cuts.