The Federal Reserve’s September 16-17 policy meeting may well be one of the most contentious in years. Although financial market investors see a 25 basis point interest rate cut as close to a lock, some participants in the Federal Open Market Committee (FOMC or Fed) remain on the fence. Barring any conclusive new data releases between now and then, there will be cogent arguments both for cutting rates and standing pat. On top of that, the Trump administration is putting tremendous pressure on the Fed to loosen policy—this will be viewed by some FOMC members as a reason to cut rates and by others as a reason not to. ... (full story)