Federal Reserve Chairperson Jerome Powell is likely to try to get everyone behind a rate cut of at least 25 basis points at his meeting later this month. However, due to the recent weakness in the labor market, Powell and others are likely to push for a larger rate cut. Kathy Bostjancic, senior vice president and chief economist at Nationwide, said in an email: "Powell does not need to agree at the upcoming September meeting to begin a rate cut, but he may be more inclined to do so, especially with the first rate cut." Betsey Stevenson, a former labour department economist, wrote on social media: "Consensus has always been a way to prevent the Fed from becoming politicised, and if I were on the FOMC, I think I would be fighting for consensus first." Dan North, senior economist at Allianz Trade Americas, said of whether Mr. Powell could secure a consensus for a larger cut: "It will be difficult. There will be a lot of opposition and it will look bad." Diane Swonk, chief economist at KPMG, wrote on social media that Mr. Powell might be willing to take the risk. "Powell is more worried about the labour market than his peers. He wants a soft landing," Mr. Swonk wrote. "The question is whether he will push hard for a 50 basis point cut and how much opposition he is willing to accept to get it done."