<p><strong>【U.S. Rate Cut/Cutting Rates/Federal Reserve】</strong> Last week, the number of unemployment claims in the U.S. fell to its lowest level in over three years, easing market concerns about a rapid deterioration in the labor market. Additionally, President Trump's &#34;trusted aide,&#34; the frontrunner for the next Federal Reserve Chair, Kevin Hassett, Director of the White House Council of Economic Advisers, expects that the Federal Reserve may cut rates by 0.25 basis points at the next meeting.</p>
<p>According to the latest data from CME FedWatch, the probability of a 0.25 basis point rate cut in December is currently 83%, while the chance of maintaining the current rate is 13%.</p>
<ul>
<li>FedWatch reveals the latest rate cut expectations</li>
<li>Latest comments from Federal Reserve officials</li>
<li>U.S. interest rate schedule</li>
<li>Latest U.S. economic data</li>
<li>Which Federal Reserve officials have decision-making power this year?</li>
</ul>
<h2>U.S. Rate Cut | FedWatch Reveals Latest Rate Cut Expectations</h2>
<p>Source: CME FedWatch</p>
<h2>U.S. Rate Cut | Latest Comments from Federal Reserve Officials</h2>
<p>Kevin Hassett, Director of the White House Council of Economic Advisers, stated in an interview on Thursday (4th) when asked if he believes the Federal Open Market Committee (FOMC) should cut rates at this month's meeting, &#34;I think we should, I think we are likely to do so.&#34; He added that recent statements from Federal Reserve governors and regional presidents &#34;seem to indicate they are now more inclined to cut rates.&#34;</p>
<p>Related article: Frontrunner for the next Federal Reserve Chair, Hassett, expects a 0.25 basis point cut this month.</p>
<p>Another &#34;trusted aide&#34; of President Trump, Federal Reserve Governor Stephen Miran, stated last Tuesday (25th) that the U.S. needs to cut rates quickly, warning that the current monetary policy has made borrowing costs too high, raising the unemployment rate and hindering economic development. He said the U.S. economy needs significant rate cuts to bring monetary policy back to a neutral stance as soon as possible.</p>
<p>John Williams, President of the New York Federal Reserve Bank, also expressed support for a rate cut in December at the end of last month (November 21st). Williams believes that due to the weakening job market, there is still room for short-term rate cuts by the Federal Reserve, bringing the policy stance closer to a neutral range, thereby maintaining a balance between the two major goals of employment and inflation.</p>
<h3>Next Federal Reserve Meeting Date: December 11, 2025</h3>
<h3>U.S. Interest Rate Schedule</h3>
<table>
<thead>
<tr>
<th></th>
<th></th>
<th></th>
<th></th>
<th></th>
</tr>
</thead>
<tbody>
<tr>
<td>U.S. Federal Reserve Meeting Date</td>
<td>Federal Reserve Decision Result</td>
<td>U.S. Benchmark Rate</td>
<td>Hong Kong Follow-up Rate Cut/Increased Amount</td>
<td>Hong Kong Base Rate</td>
</tr>
<tr>
<td>December 11, 2025</td>
<td>To be announced</td>
<td>To be announced</td>
<td>To be announced</td>
<td>To be announced</td>
</tr>
<tr>
<td>October 30, 2025</td>
<td>Cut 0.25 basis points</td>
<td>3.75% - 4%</td>
<td>Cut 0.125 basis points</td>
<td>4.25%</td>
</tr>
<tr>
<td>September 18, 2025</td>
<td>Decrease 0.25 basis points</td>
<td>4% - 4.25%</td>
<td>Decrease 0.125 basis points</td>
<td>4.5%</td>
</tr>
<tr>
<td>July 31, 2025</td>
<td>Unchanged</td>
<td>4.25% - 4.5%</td>
<td>Unchanged</td>
<td>4.75%</td>
</tr>
<tr>
<td>June 19, 2025</td>
<td>Unchanged</td>
<td>4.25% - 4.5%</td>
<td>Unchanged</td>
<td>4.75%</td>
</tr>
<tr>
<td>May 8, 2025</td>
<td>Unchanged</td>
<td>4.25% - 4.5%</td>
<td>Unchanged</td>
<td>4.75%</td>
</tr>
<tr>
<td>March 20, 2025</td>
<td>Unchanged</td>
<td>4.25% - 4.5%</td>
<td>Unchanged</td>
<td>4.75%</td>
</tr>
<tr>
<td>January 30, 2025</td>
<td>Unchanged</td>
<td>4.25% - 4.5%</td>
<td>Unchanged</td>
<td>4.75%</td>
</tr>
<tr>
<td>December 19, 2024</td>
<td>Decrease 0.25 basis points</td>
<td>4.25% - 4.5%</td>
<td>Decrease 0.125 basis points</td>
<td>4.75%</td>
</tr>
<tr>
<td>November 8, 2024</td>
<td>Decrease 0.25 basis points</td>
<td>4.5% - 4.75%</td>
<td>Decrease 0.25 basis points</td>
<td>5%</td>
</tr>
<tr>
<td>September 19, 2024</td>
<td>Decrease 0.5 basis points</td>
<td>4.75% - 5%</td>
<td>Decrease 0.25 basis points</td>
<td>5.25%</td>
</tr>
<tr>
<td>August 1, 2024</td>
<td>Unchanged</td>
<td>5.25% - 5.5%</td>
<td>Unchanged</td>
<td>5.75%</td>
</tr>
<tr>
<td>June 13, 2024</td>
<td>Unchanged</td>
<td>5.25% - 5.5%</td>
<td>Unchanged</td>
<td>5.75%</td>
</tr>
<tr>
<td>May 2, 2024</td>
<td>Unchanged</td>
<td>5.25% - 5.5%</td>
<td>Unchanged</td>
<td>5.75%</td>
</tr>
<tr>
<td>March 21, 2024</td>
<td>Unchanged</td>
<td>5.25% - 5.5%</td>
<td>Unchanged</td>
<td>5.75%</td>
</tr>
<tr>
<td>February 1, 2024</td>
<td>Unchanged</td>
<td>5.25% - 5.5%</td>
<td>Unchanged</td>
<td>5.75%</td>
</tr>
<tr>
<td>January 31, 2024</td>
<td>Unchanged</td>
<td>5.25% - 5.5%</td>
<td>Unchanged</td>
<td>5.75%</td>
</tr>
</tbody>
</table>
<p>Source: Federal Reserve official website</p>
<h2>U.S. Rate Cuts | Latest U.S. Economic Data</h2>
<h3>Labor Market:</h3>
<p>The U.S. Bureau of Labor Statistics announced on November 20 that non-farm jobs increased by 119,000 in September, far exceeding the market expectation of 51,000. During this period, the unemployment rate rose by 0.1 percentage points to 4.4%, the highest level in nearly four years, while average hourly wages increased by 0.2% month-on-month, lower than the expected 0.3%</p>
<h2>US Rate Cuts | Which Federal Reserve Officials Have Decision-Making Power This Year?</h2>
<p>The Federal Open Market Committee (FOMC) is the core institution of the Federal Reserve, responsible for formulating US monetary policy. The FOMC consists of 12 members: 7 members from the Board of Governors and the President of the New York Federal Reserve Bank. The remaining 4 members are the Presidents of the 11 regional Federal Reserve Banks, rotating annually. In 2025, the 4 regional Federal Reserve Bank Presidents with voting rights will come from Boston, Chicago, St. Louis, and Kansas City.</p>
<p>Other regional Federal Reserve Bank Presidents without voting rights this year will also attend FOMC meetings, participate in discussions, and contribute to the assessment of economic and policy options.</p>
<h3>2025 Federal Open Market Committee (FOMC) Member List</h3>
<table>
<thead>
<tr>
<th></th>
<th></th>
</tr>
</thead>
<tbody>
<tr>
<td>Name</td>
<td>Position</td>
</tr>
<tr>
<td>Jerome Powell</td>
<td>Chair of the Federal Reserve</td>
</tr>
<tr>
<td>John Williams</td>
<td>President of the New York Federal Reserve Bank</td>
</tr>
<tr>
<td>Michael Barr</td>
<td>Federal Reserve Governor</td>
</tr>
<tr>
<td>Michelle Bowman</td>
<td>Federal Reserve Governor</td>
</tr>
<tr>
<td>Susan Collins</td>
<td>President of the Boston Federal Reserve Bank</td>
</tr>
<tr>
<td>Lisa Cook</td>
<td>Federal Reserve Governor</td>
</tr>
<tr>
<td>Austan Goolsbee</td>
<td>President of the Chicago Federal Reserve Bank</td>
</tr>
<tr>
<td>Philip Jefferson</td>
<td>Federal Reserve Governor</td>
</tr>
<tr>
<td>Stephen Miran</td>
<td>Federal Reserve Governor</td>
</tr>
<tr>
<td>Alberto Musalem</td>
<td>President of the St. Louis Federal Reserve Bank</td>
</tr>
<tr>
<td>Jeffrey Schmid</td>
<td>President of the Kansas City Federal Reserve Bank</td>
</tr>
<tr>
<td>Christopher Waller</td>
<td>Federal Reserve Governor</td>
</tr>
</tbody>
</table>
<h3>Alternate Members</h3>
<table>
<thead>
<tr>
<th></th>
<th></th>
</tr>
</thead>
<tbody>
<tr>
<td>Name</td>
<td>Position</td>
</tr>
<tr>
<td>Beth Hammack</td>
<td>President of the Cleveland Federal Reserve Bank</td>
</tr>
<tr>
<td>Neel Kashkari</td>
<td>President of the Minneapolis Federal Reserve Bank</td>
</tr>
<tr>
<td>Lorie Logan</td>
<td>President of the Dallas Federal Reserve Bank</td>
</tr>
<tr>
<td>Anna Paulson</td>
<td>President of the Philadelphia Federal Reserve Bank</td>
</tr>
<tr>
<td>Sushmita Shukla</td>
<td>First Vice President of the New York Federal Reserve Bank</td>
</tr>
<tr>
<td>Source: Federal Reserve official website</td>
<td></td>
</tr>
</tbody>
</table>

<p>The number of unemployment benefit claimants in the United States has fallen to a three-year low, alleviating concerns about the labor market. White House Council of Economic Advisers Chairman Kevin Hassett predicts that the Federal Reserve may cut interest rates by 0.25 percentage points in December, with the CME FedWatch indicating an 83% chance of a rate cut. Federal Reserve officials are inclined to lower rates, with New York Fed President John Williams supporting a rate cut to balance employment and inflation</p>

- The number of unemployment claims in the U.S. has dropped to a three-year low, easing concerns about the labor market.  
- Kevin Hassett, a key economic advisor, anticipates a 0.25% interest rate cut at the upcoming Federal Reserve meeting, with an 83% probability according to FedWatch.  
- Recent comments from Fed officials suggest a growing inclination towards reducing rates to balance employment and inflation amid a weakening job market.

Stheadline

U.S. Rate Cut | The Federal Reserve's chance of a rate cut in December reaches 87%. Trump's confidant predicts a reduction of 0.25 basis points. Let's take a look at the latest interest rate discussions and officials' statements