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Federal Reserve Official's Cautious Comments Trigger Rate Cut Uncertainty, Dollar Rises
BlockBeats News, November 14th, the US dollar rose after Federal Reserve officials' remarks heightened doubts about another rate cut in December. Fed officials Kashkari, Harker, and Mester all made cautious comments on the rate cut.
Prior to this, Federal Reserve Chairman Powell stated at the October meeting that another rate cut in December was not a done deal. LSEG data shows that the market is currently pricing in a 44% probability of another rate cut in December, up from 30% a week ago, as policymakers sound cautious on inflation.
The end of the record government shutdown will lead to a large backlog of official data pouring in, which could alter rate expectations. However, the timing and reliability of the data release are still unclear. (Forex Live)
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