Federal Reserve officials appear more likely to cut rates this month after data showed the U.S. labor market remained strong but continued to cool in November, with a deeper debate to come next year over whether to pause further rate reductions.

For many investors, Friday's jobs report confirmed expectations that the Federal Reserve is on track to cut interest rates

The Federal Open Market Committee is most likely to cut interest rates again to 4.25% to 4.5% on December 18 according to fixed income markets.

The conventional wisdom among economists and traders is that the Federal Reserve is going to cut its benchmark interest rate by another quarter of a percentage point on Dec. 18, and then pause at its first meeting in 2025.

In her first major policy speech, Federal Reserve Bank of Cleveland President Beth Hammack said on Friday she’s keeping her options open when it comes to the central bank’s next policy meeting, as broader economic conditions continue to argue for a slowdown in the pace of rate cuts.

The US Federal Reserve appears likely to lower benchmark interest rates again later this month, after cutting interest rates at its previous two meetings. CLick to read.

Federal Reserve Bank of Cleveland President Beth Hammack said policymakers are “at or near” the point where the central bank should slow the pace of interest-rate reductions, citing a strong economy and still-elevated inflation.