Ahead of Wednesday's highly anticipated Federal Reserve rate decision, Former Atlanta Federal Reserve President Dennis Lockhart joins Market Domination Overtime to provide his insight into the rate cut outlook.

Lockhart expects Fed Chair Jerome Powell to be "non-committal" in his stance, as significant uncertainty surrounds the monetary easing policy. He notes that the quarter has presented "sideways inflation data," forcing the Federal Reserve to "keep their options open" regarding rate cut bets.

Addressing concerns over potential rate hikes, Lockhart believes this is not "the base case." However, he acknowledges that the probability is not zero. Nonetheless, he expects Fed Chair Powell to neither deny nor confirm whether rate hikes are on or off the table, stating that the committee cannot be "definitive on any particular path or policy."

When asked if he believes the economy has felt the effects of the rate tightening cycle that occurred, Lockhart says, "The economy has tolerated this rate setting extremely easily."

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Editor's note: This article was written by Angel Smith