Crypto Prices and Stocks Tumble as Withering Rate Cut Hopes
Markets are further dialing back expectations for another interest rate cut this year after the Bureau of Labor Statistics said it won’t release jobs data for October and the November report will be delayed until after the Federal Reserve’s December.
Traders on the Chicago Mercantile Exchange (CME) now see just a 33% chance that the Federal Reserve cuts rates at its final policy meeting of 2025, down from 50% just a day earlier. Recall that less than one month ago, the chances of a December rate cut were more or less 100%. Following the Fed’s late October meeting though, Chairman Jerome Powell shocked markets by pouring cold water on ideas.
Over the ensuing weeks, speeches and interviews with Fed members revealed just how deep the…
