Golden Finance reports, AJ Bell Investment Director Russ Mould: I agree with the market expectation that the Federal Reserve will cut interest rates by 25 basis points at this meeting. However, the Federal Reserve's economic outlook may indicate that there will only be two rate cuts next year. The Federal Reserve will meet again next month, just over a week after Trump's inauguration; is the possibility of a rate cut in January completely ruled out? I wouldn't say that. The Federal Reserve is known for its 'data dependency' and is committed to its dual mandate of inflation and employment. However, behind Powell, the enormous federal deficit means $1 trillion in interest expenses each year, which is putting pressure on U.S. economic growth. If interest expenses can be reduced by lowering interest rates, this would be beneficial for the U.S. and for the elected president Trump.