Traders bet on Fed Dec. rate cut

Traders bet on Fed December rate cut after inflation data
Traders of contracts that settle to the Federal Reserve's policy rate moved Wednesday to price in a firmer chance of another quarter-point interest-rate cut at the central bank's meeting next month, after a government report showed consumer inflation rose in October in line with economist expectations.
US inflation rose 2.6% in October — higher than a month earlier — as Fed weighs further rate cuts
The Consumer Price Index rose 2.6% versus a year ago in October — falling in line with expectations, the Labor Department said on Wednesday.
Inflation Makes a Comeback: Does This Put December's Rate Cut in Jeopardy?
Core prices, which exclude volatile items like food and energy, increased 0.3% month over month in October, the same as August and September. Housing remains the biggest contributor to rising prices, accounting for half of the increase as the shelter index rose 0.4% month over month.
Fed lowers key interest rate by quarter point as inflation eases but pace of cuts may slow
After a September half-point cut, the reduction would bring the benchmark federal funds rate down three-quarters of a point from its 23-year high.
Odds of a December Interest-Rate Cut Jump After Inflation Matches Expectations
Wall Street gained confidence that the Federal Reserve will opt for another quarter-point interest-rate cut in December after the consumer price index for October matched expectations. Traders saw a 79.

Fed Rate Cuts Aren't a Cure-All for High Mortgage Rates

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