Barring a major surprise, agency analysts say the Fed will continue its rate-cutting cycle by 25 basis points. What investors really want to know: How will Trump's proposed fiscal and tariff policies affect the rate outlook on the FOMC? Attendees may be grappling with that question. If the election result is less decisive, Fed Chairperson Jerome Powell may lean dovishly in his post-meeting news conference, mirroring signals in October's subpar jobs data and weak Beige Book. But with Republicans on the verge of taking control of the White House and possibly both houses of Congress, several attendees are expected to urge restraint and push for a more gradual pace of rate cuts.