Powell is this terms version of Pence and Barr. His job is to prevent Trump from succeeding by obstructing him with fiscal monetary policy. Personally I really think it’s fine as is, but Powells Beltway assignment is to block him with institutional roadblocks, all the while feathering bureaucrats nests in gold.
Inflation may be softening a little bit but in order to keep it contained best not to cut too much IMO. That said, the consumer is carrying record levels of debt right now and the housing market is somewhat frozen so a small cut might be beneficial to the economy.
But, to your point, Powell clearly has a political agenda. Recall that he cut rates by 50 basis points a mere 48 days before the 2024 election, an obviously political decision. After Trump’s victory, Powell was forced to cut another 50 to try to make the first cut look unpolitical.