Paul Nolte: The next Fed chair is likely to be dovish, and the market is optimistic about a downward trend in interest rates

According to Golden Ten Data, Murphy & Sylvest market strategist Paul Nolte stated that at the last Federal Reserve meeting, Powell mentioned that due to a lack of economic data, the Fed would remain on hold at the next meeting. Subsequently, speeches by several Fed officials shifted the stance from "no action will be taken in December" to "we need to cut rates in December because the job market is showing significant weakness." Nolte added that the next Fed chair may lean dovish, so the market is optimistic about a downward trend in interest rates in 2026.