Expert: Powell seems more dovish, most policymakers are expected to favor a 25 basis point rate cut in September

"Powell appears to be more dovish than his peers," said Gregory Daco and Lydia Boussour, Ernest & Young-Patnon economists. "Nonetheless, barring a substantial deterioration in the labour market in the coming weeks, we still expect most policymakers to favour a 25 basis point cut in September."