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Nov 6 - Donald Trump's election as U.S. president may mean the Federal Reserve will not cut interest rates as far or as fast as previously expected, on anticipation that a slew of new policies once he takes office will stall inflation's downward progress.
But traders of futures that settle to the Fed's policy rate are less certain now of a December rate cut than previously, with the contracts now priced for the Fed to be done cutting rates by June, once the policy rate is in the 3.75%-4% range. Since then, stronger-than-expected economic data had been resetting market rate expectations for an increasingly shallower rate-cut path. That shift gained steam as Trump clinched the win at the ballot box.
Economists say those policies are likely to lead to faster economic growth and a tighter labor market that, along with the higher import costs, would put upward pressure on prices.
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