LPL Financial Chief Economist Jeffrey Roach expects the Federal Reserve to skip a rate cut in December or January, followed by up to four rate cuts in 2025. Analysts at Bank of America expect a rate cut in December, but they add that, "Given the resilience of economic activity and stubborn inflation, the extent of the rate cut seems to lean towards being more moderate." According to data from the CME FedWatch Tool, the market expects about a 45% chance that the Federal Reserve will keep rates unchanged at the upcoming December meeting. A month ago, this probability was 24%. (Jin Shi)