Prediction markets Kalshi and Polymarket show a more than 80% probability of a 25-basis-point Federal Reserve interest rate cut at the central bank's Dec. 9-10 policy meeting.

Across many districts, the Beige Book found that employment “edged lower,” marking a shift from earlier reports.

The government's latest jobs data could affect whether Federal Reserve officials continue their push to ease borrowing costs.

The odds of a December interest-rate cut have rebounded sharply. Traders are pricing in an 84.9% chance of a quarter-percentage-point cut Nov. 25 from less than 30 percent the previous week, according to the CME Group’s FedWatch tool.

J.P. Morgan said on Wednesday it now expects the U.S. Federal Reserve to deliver a 25-basis-point rate cut in December, reversing its earlier call that policymakers would stay on hold until January.

Markets are predicting a Fed rate cut in December, but its impact on mortgage rates is far from certain. Here’s what house hunters should know right now.

Allies of Federal Reserve Chair Jerome Powell have laid the groundwork for him to push a rate cut through a divided committee at next month’s meeting even though it could draw multiple dissents. The unusual level of division inside the Fed means that, to an even greater degree than usual, the final call rests with Powell.

Since the last Fed meeting, "most of the private sector and anecdotal data that we've gotten is that nothing has really changed. The labor market is soft. It's continuing to weaken," with inflation expected to ease, Waller said on Fox Business' Mornings with Maria.

John C. Williams, president of the Federal Reserve Bank of New York, said the central bank had scope to lower borrowing costs “in the near term.”

The views of the San Francisco Fed president are significant because she has rarely deviated publicly from the position of Chair Jerome Powell.