CME FedWatch signals high odds of December Fed rate cut

Ahead of the PCE inflation report, CME FedWatch shows an 87.2% probability of a 25 bps rate cut next week. Economists expect September PCE to rise 0.3% and core PCE 0.2%, with annual readings at 2.9% and 2.8%, respectively. The data will shape expectations going into next weeks FOMC meeting.