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Will this open a chain of 25 basis points interest rate cuts, as expected by financial markets, and continue into next year's interest rate reduction cycle? Or is it more limited? This is a difficult decision for Fed officials.
One reason: Federal Reserve officials have no clear consensus on why interest rate cuts are needed, especially since the U.S. unemployment rate is near a 50-year low and the U.S. economy is still among the fastest growing countries in the developed world.
Is this rate cut a precaution against the risks associated with slowing global growth and trade frictions? Is it a way to boost weak inflation? To further boost the job market? Is it to correct the freak of the bond market? Over the past few weeks, Fed policymakers have come up with these and more ideas.
John Williams, President of the Federal Reserve Bank of New York, even once convinced the market that the Fed planned to cut interest rates by 50 basis points this week, but the New York Fed later clarified that his claim to "prevent" the economy from major shocks was essentially academic discussion, not to suggest recent policy decisions.
The Federal Reserve also wants to clarify that the easing is not a response to President Trump's months of pressure on the Fed to cut interest rates. It also complicates the problem.
Investors should be able to get a clearer signal when the FOMC concludes its two-day policy meeting and announces its policy statement at 1800 GMT on Wednesday. Federal Reserve Chairman Powell will then hold a press conference.

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