Lower rates can turbocharge an already surging stock market. However, risks on the economic front are becoming more apparent.

With so much riding on the Fed, it's crucial to not just celebrate a possible rate cut next week, but also chew on what Powell has to say about the economy.

Lower rates can turbocharge an already surging stock market. However, risks on the economic front are becoming more apparent.

With markets convinced of a Fed rate cut, Powell must navigate divisions inside the FOMC over inflation, tariffs, and jobs data.