As market expectations grow for a rate cut next month, the Fed is likely to deliver on that expectation. Wall Street mogul Peter Schiff said he will see a rate cut in September, mainly because the market is now counting on a rate cut in September. That's why U.S. stocks rebounded after being sold off on Monday. Now that the market has factored in the possibility of a rate cut in September, Powell has no reason not to deliver. He always meets market expectations. He doesn't want to cause surprises in the market.