MNI: Fed's Powell: No Widespread Support For 50BP Cut

Federal Reserve Chair Jerome Powell said Wednesday there was not broad support for a larger interest rate cut despite a dissent from newly appointed governor Stephen Miran. 

"There wasn't widespread support at all for a 50 basis point cut today," Powell told reporters in his post-meeting press conference. 

The Fed cut rates by 25 basis points and officials penciled in a median of two more cuts for the year. (See MNI POLICY: Fed Takes Measured Approach To Post-Sept Cuts)