With the US presidential election and Federal Reserve November meeting on deck for this week, The Wall Street Journal's chief economics correspondent Nick Timiraos joins Market Domination Hosts Julie Hyman and Josh Lipton to discuss what to expect.

Timiraos highlights the dot plot the Fed provided at its last meeting, noting that “there was a pretty even split at the last meeting over whether you would have one or two more cuts this year at those two remaining meetings. There was a narrow majority that had two.”

“I don't think a whole lot has changed since the last meeting, but the data could change between now and the next meeting,” Timiraos says, adding, “It’s very hard to say definitively that you're going to cut again in December. You can't rule it out. And I think there are plenty of wild cards. To me, the bigger question really, and it can't get answered at this meeting, is what do they do next year?”

With the November FOMC meeting falling the same week as the presidential election, Timiraos says, “Jay Powell is going to do his best to just not draw the spotlight at this meeting … Chair Powell is going to try to be as boring as possible. This isn't a week where the Fed really wants to be in the limelight. They never really want to be in the limelight, but sometimes it's easier to avoid the limelight. And this would be one of those weeks. I still think the big question is what is the Fed's destination when these interest rate cuts are all done and you have a lot right now that just makes it harder to answer that question.”

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This post was written by Naomi Buchanan.