Louis Fed President James Bullard and Minneapolis Fed President Neel Kashkari, who are expected to argue for a steep reduction in borrowing costs to counter low inflation and an inverted Treasury yield curve. REUTERS/Leah Millis/File PhotoĪn oil price spike after attacks on Saudi Arabian oil facilities over the weekend added to the list of risks facing an economy already slowed by ongoing trade tensions and global weakness.īut the deep divide evident around the Fed’s policymaking table means further rate cuts could be far from a done deal, and on Tuesday traders were no longer betting the central bank will follow Wednesday’s expected rate cut with another by the end of the year.Īt one end of the Fed’s large boardroom table sit St. FILE PHOTO: Federal Reserve Board Chairman Jerome Powell testifies before a Senate Banking, Housing and Urban Affairs Committee hearing on the "Semiannual Monetary Policy Report to Congress" on Capitol Hill in Washington DC, U.S., July 11, 2019.
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