With the recent news about US unemployment rate hitting a new all time high and with the negative reaction that the Wall Street market showed to the stats, things are going to become even more complicated for the FED.
It can be said that the Fed is in a dilemma. Because with such high unemployment and if they don't lower interest rates, this could push the US economy into recession. Conversely, if they cut interest rates and inflation picks up again next year, things won't be much better.
The market is very optimistic that the Fed will cut interest rates on the 17th, but I think they will only make a final decision when they look at the CPI index released on September 10. If CPI comes up unexpectedly, I don't think they will cut interest rates like the market is expecting.
However, the fact is that President Trump wants interest rate cuts, and if that doesn't happen, tensions between Trump and the Fed will continue to escalate. I personally hope the Fed can lower interest rates, not because I support Trump, but because it will have a good impact on the crypto market. We'll see what happens in the next week when the Fed holds its meeting, many parties seem optimistic.