Federal Reserve Chair Jerome Powell speaks during a news conference following the Nov. 6-7, 2024, Federal Open Market Committee meeting at William McChesney Martin Jr. Federal Reserve Board Building in Washington, D.C., on Nov. 7, 2024.
ET, market pricing pointed toward a 67% chance of another quarter-point cut in December and a 33% chance of a pause that month, according to the CME FedWatch Tool.
The probability of a quarter-point December rate cut rose to more than 70% following the meeting, while the chances of a pause slipped to nearly 29%.
Future rate probabilities found in the CME FedWatch Tool are derived from trading in 30-day fed funds futures contracts.
Meanwhile, the odds that the Federal Reserve would skip an interest rate cut in January was around 71%.
Persons:
Jerome Powell, William McChesney Martin Jr, —, Jeff Cox
Organizations:
Federal Reserve, Washington , D.C, Federal
Locations:
Washington ,, U.S