By Nick Timiraos

Federal Reserve Chair Jerome Powell's comments about the December rate-setting meeting--a set of decisions that are six weeks away--went well beyond the standard disclaimer that the Fed's decisions are never on a preset path.

Instead, they reveal broader discomfort on the part of at least several of his colleagues that investors had unrealistic expectations that a rate cut in December was a done deal. "For some part of the committee, it's maybe time to take a step back and see whether there really are downside risks to the labor market," Powell said.

The meeting this week revealed a "growing chorus" of policy makers who are asking, "maybe we should just wait a cycle," Powell said.

In the past, Powell has tried to deflect questions about upcoming policy decisions by refocusing attention on the policy action at that particular meeting.

Powell's focus Wednesday on a meeting that is still six weeks away highlights a difficult committee-management exercise that the Fed leader faces in the weeks to come, particularly if economic data doesn't reconcile a divergence between weaker labor market indicators and steady consumer spending.

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(END) Dow Jones Newswires

October 29, 2025 15:15 ET (19:15 GMT)

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