Amid a deepening global economic outlook, the Federal Reserve is expected to cut interest rates by another quarter point when it holds its next meeting in two weeks, The Wall Street Journal reported Thursday, citing interviews with officials and public speeches.

The Federal Open Market Committee cut rates by a quarter point for the first time in more than a decade at its last meeting, but some traders and investors have signaled they would like a deeper reduction and more aggressive rate-cutting cycle. President Donald Trump also continues to pressure the Fed for more rate cuts, and said in August that the Fed should cut rates by at least 1%.

But the WSJ says a half point cut is not getting support within the Fed.

On Wednesday, St. Louis Federal Reserve President James Bullard said the Fed should cut rates by half a percentage point at its next meeting to get ahead of both financial market expectations and a global trade war.