Fed Adds Wrinkle for Markets With December Cut Now in Doubt

Investors were pinning hopes on more monetary policy easing ahead, even as Wednesday's Federal Reserve meeting revealed a less-certain path toward more interest rate cuts in the face of a data drought, sticky inflation and divided opinions among the central bank's members.

Fed Chair Jerome Powell surprised markets by casting doubt on the prospects of an interest rate cut at the central bank's next meeting in December, saying such a move was "not a foregone conclusion" even though markets had priced it as an almost-done deal. Wall Street erased gains and bonds were sold off after he spoke.

His remarks came at a press conference after the Fed announced its...

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