AJ Bell Investment Director Russ Mould: Agrees with the market expectation of a 25 basis point rate cut at this Federal Reserve meeting. However, the Federal Reserve's economic forecast may indicate only two rate cuts next year. The Federal Reserve will hold another meeting next month, more than a week after Trump takes office; can the possibility of a rate cut in January be completely ruled out? I wouldn’t say so. The Federal Reserve is known for its 'data reliance' and is committed to its dual mandate of inflation and employment. However, behind Powell, the huge federal deficit means annual interest payments of $1 trillion, which is putting pressure on USA economic growth. If interest expenses can be reduced by lowering interest rates, this would be beneficial for USA and the elected president Trump.