By Howard Schneider and Ann Saphir CHICAGO/PALO ALTO, California (Reuters) - Federal Reserve officials appear on track to cut interest rates this month after data showed the U.S. labor market remained strong but continued to cool in November,

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

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

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.

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.

The job market remains stable but isn’t growing substantially. This may lead to more interest rate cuts when the Fed meets in December.

St. Louis Federal Reserve President Alberto Musalem said on Wednesday he expects the U.S. central bank will be able to continue to cut interest rates but isn't ready to say what he thinks should happen at its policy meeting later this month.

Federal Reserve Bank of St. Louis President Alberto Musalem sees a risk that progress toward 2% inflation could stall, or possibly reverse.

Faisal Hasan, Chief Investment Officer of Al Mal Capital explains why the Fed will continue to ease policy, expecting rates at around 3.6% by the first half of 2025.