Investors are watching for clues about the Fed's December interest rate decision and next year's policy outlook in Powell's speech on Friday.

Odaily Planet Daily Report: Powell will deliver a speech this Friday to discuss interest rates and economic issues. Investors and economists will closely watch for his clues about the Federal Reserve's December interest rate decision and the policy outlook for 2025. In his recent remarks, Powell emphasized the Federal Reserve's dual mandate - the balanced risk of stabilizing inflation and supporting maximum employment. He described the Federal Reserve's path of rate cuts as the "normalization" of policy. The interest rate futures market pricing on Wednesday suggests that the probability of a 25-basis-point rate cut at the Federal Reserve's meeting on December 17-18 exceeds 80%, while the probability of no rate cut is greater. The policymakers' update to their quarterly economic forecast summary in September showed a median forecast of a 1-percentage-point rate cut in 2024, followed by a 1-percentage-point rate cut in 2025. Officials will update the so-called "dot plot" at the December meeting, giving them an opportunity to signal the policy path for 2025 and beyond. (Gold Ten)