Wednesday’s 25bp Fed rate cut was no surprise, but Scope Ratings (Scope) may consider it as the wrong decision nevertheless partially forced through political and market pressure. It was certainly a highly divisive decision with the most dissents since 2019 and, for the second consecutive meeting, dissents for holding rates unchanged as well as for a bigger cut. Divisions on the Federal Open Market Committee (FOMC) are only set to widen after next May as the unifying figure of Jerome Powell steps aside and ...