Powell's Fed consensus challenge signals tough road for next chair

• The Federal Reserve is expected to deliver a third consecutive interest-rate cut this week.
• Chair Jerome Powell faces challenges in achieving consensus for rate cuts, with dissenting votes expected.
• Increased dissents highlight difficulties for Powell and his successor in balancing high inflation and a weakening job market.
• The upcoming meeting marks the fourth consecutive with at least one dissenting vote, signaling a shift from past collegiality.
• Kevin Hassett, a frontrunner for the next Fed chair, suggests AI-driven productivity allows for lower rates, a view not fully shared by current officials.

Why It Matters: Fed's growing internal dissent signals future policy challenges for its next leader.