Fed December Rate Cut Probability Falls to 31.6% After October FOMC Minutes

The probability of a Federal Reserve rate cut in December dropped to 31.6% after the release of October FOMC meeting minutes, with the likelihood of no rate change rising to 68.4%, CME FedWatch data show on Nov. 20. Before the minutes were published at 1:00 AM Beijing time, markets had priced in a 51.1% chance of a 25 basis point cut in December and a 48.9% probability of rates holding steady.