Due to a lack of economic data caused by the government shutdown, there is now a 70% chance the Federal Reserve will cut interest rates in December, down from a previous 93% chance.
"So J Powell, who's a chair of the Federal Reserve, said that there was a strong disagreement among the committee members about what they're going to do in December because of the lack of government reports. They're on a foggy path. That's what he said. Okay. Okay, so before the government shutdown, there was a 93% chance that they were going to cut interest rates in December. But now the odds have fallen to 70%."
