Fed December Rate Cut Odds Rise to 89.2% After Jobless Claims Hit 191,000

The probability of a 25 basis point Federal Reserve rate cut in December stands at 89.2%, with a 10.8% chance of rates remaining unchanged, CME FedWatch Tool data show following Thursday's jobless claims report. U.S. initial jobless claims for the week ending November 29 totaled 191,000, the lowest level since the week of September 24, 2022, and below the 220,000 consensus forecast.