Economist: Fed may skip a rate cut in December or January

Jeffrey Roach, chief economist at LPL Financial, expects the Fed to skip a rate cut in December or January, followed by up to four rate cuts through 2025. Bank of America analysts expect a rate cut in December, but added that "given the resilience of economic activity and stubborn inflation, the rate cuts appear to be more modest." According to the CME FedWatch tool, the market expects the Fed to keep interest rates unchanged at the upcoming December meeting with a probability of about 45%. A month ago, the probability was 24%. (Jinshi)