As a result, markets have revised their forecasts: while traders just days ago were estimating the probability of a 'quarter-point rate cut' as at least 2 to 1, this possibility is now considered unlikely, according to readings from futures markets. These statements have raised further doubts about the Federal Reserve's ability to implement its third consecutive monetary policy easing at its meeting on December 9 and 10. Recent statements from Federal Reserve Board officials confirm the warnings issued by Chairman Jerome Powell two weeks ago, when he said that a rate cut in December is not certain. Strategists believe these developments weaken confidence in the Fed's willingness to act.
