
After weeks of mixed signals, the Federal Reserve's tone on monetary policy turned noticeably more dovish Friday, driving a sharp repricing in interest-rate expectations ― with traders now seeing an almost 3-in-4 chance of a December cut.
According to the CME FedWatch tool, the odds of a 25-basis-point rate reduction at the Dec. 10 policy meeting jumped to 74%, up from just 25% the day before.