Nomura Securities has withdrawn its forecast for a Federal Reserve rate cut in December, following the Fed's October 30 rate decision and Chair Powell's press conference. Fed Chair Powell said a December rate cut is "not set in stone." Nomura had previously expected a 25 basis point cut in December. Federal funds futures markets now price in a 72% probability of another rate cut by year-end, down from 91% before the Fed's decision, Jin10 data show.