Standard Chartered firmly believes that the Fed will cut interest rates in December: the US Non-farm Payrolls (NFP) data is likely to be very weak.

Odaily News Although there are serious disagreements among Fed policymakers ahead of the December meeting, Standard Chartered Bank stated that this is unlikely to prevent the Fed from continuing to cut interest rates, and warned that the weak expectations for the labor market will continue to dominate the direction of monetary policy. Steve Englander, the global G10 forex research and North America macro strategy head at Standard Chartered Bank, stated in a recent report: “We maintain that the FOMC will cut interest rates in December, primarily because we believe the employment data from September to November is likely to be very weak, which should be sufficient to sway the Fed's moderates towards the rate-cutting camp.” (Jin10)