Powell 'holds the key' to the next Fed rate move as divided policymakers will likely fail to reach a consensus again, JPMorgan says

Federal Reserve Chairman Jerome Powell opened the door to a rate cut at the central bank’s meeting in September after months of maintaining a more hawkish stance, stoking a furious rally on Wall Street. But don’t expect a unanimous decision among policymakers, and Powell may be the decisive factor, according to JPMorgan.

A consensus view on Wall Street for a rate cut next month doesn’t mean there will be a consensus on the Federal Reserve as policymakers still appear divided.

In his Jackson Hole speech on Friday, Chairman Jerome Powell opened the door to a rate cut at the central bank’s meeting in September after months of maintaining a more hawkish stance, stoking a furious rally on Wall Street .

His emphasis on growing risks to the labor market coupled with a more muted warning o