The Commercial Real Estate Alpha Site

The Federal Reserve meets September 16–17, and markets are betting on a 25-basis-point rate cut, maybe even 50. The backdrop is messy: inflation is easing but not gone, the labor market is showing cracks, and political pressure is mounting on the central bank. Governor Lisa Cook faces a potential court-ordered removal, while nominee Stephen Miran could be confirmed just in time to tilt the board’s balance.

That means policy decisions and personnel changes may collide in real time. Investors are bracing for volatility: rate cuts are bullish for markets, but political interference in Fed governance could spook confidence. The next few days could shape not just the path of rates, but the Fed’s credibility itself.