Odds of a Federal Reserve rate cut at the December FOMC meeting have plunged to 30%, sharply lower than the 50% probability seen just a day ago and far below the 98% conviction from one month earlier, according to CME’s FedWatch tool. The collapse comes amid a growing economic data blackout driven by the recent government shutdown and deep divisions within the central bank. What to KnowThe probability of a December Fed rate cut is now 30%, down from 50% last week and 98% in October. The Labor Department will not release October jobs data due to the government shutdown
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