December Rate-Cut Bets Crumble to 30% Amid Fed Data Void
Market confidence in a Federal Reserve rate cut has eroded sharply, with the probability of a 25-basis-point move down to 30%, according to CME’s FedWatch tool. That compares with 50% just a day and a week earlier, and a near-certain 98% only a month ago.
The shift reflects mounting concern over the extended data blackout that has left policymakers flying with limited visibility. The Labor Department confirmed Wednesday that it will not publish October’s employment report, citing unprecedented delays linked to the recent government shutdown.
Compounding the uncertainty, minutes from the Fed’s October meeting revealed significant disagreement among officials over whether conditions warrant holding steady or easing rates at the next gathering.
Bitcoin traded around $91,700 at press time, gaining 0.8% over the previous 24 hours.
