The Federal Reserve will finish its two-day meeting on Dec. 10. The market expects another interest rate cut. Futures traders currently put the probability of a 25-basis-point (0.25%) cut at 87%. But investors will also look for signs of division, and the S&P 500 ( ^GSPC 0.09% ) could fall if there are concerns about the Fed's independence being compromised.

Additionally, policymakers will update their summary of economic projections. With the economy already under pressure from President Donald Trump's tariffs , investors will pay attention to forecasts for GDP growth, inflation, and unemployment. Any sign that stagflation has become a more likely outcome would also be bad news for the stock market.

Here's what investors should know.

The Federal Reserve is abnormally divide

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