The countdown is on for the most anticipated Fed decision

The Federal Reserve is widely expected to cut rates by 25bps to 4.00–4.25, with 105 of 107 economists surveyed by Reuters forecasting that outcome.

Still, the decision may not be unanimous. Some Committee members are not fully aligned on a September cut. Fed’s Goolsbee and Schmid could dissent in favour of leaving rates unchanged.

There is also a possibility of a larger move. If the U.S. Senate confirms Stephen Miran’s nomination to the Fed Board on Monday, he could be sworn in just in time for the meeting, and some speculate he may vote for a 50bps cut. Governors Bowman and Waller, who have previously dissented dovishly, may also support a larger reduction.