Markets Focus on Fed Signals Ahead of December Meeting | Presented by CME Group

A further reduction in the policy rate at the December meeting is not a foregone conclusion. Far from it. >> At the October 29th FOMC meeting, Fed Chair Jerome Powell made comments that convinced the market that a December rate cut was no longer a done deal.Powell noted that the absence of reliable data, created high uncertainty, and suggested the situation may favor caution when it comes to further eases. The futures markets believed him. Odds for a December rate cut plunged from over 90% to below 50% in t ...