Fed's December Rate Cut to Mark Ongoing Easing Cycle: Wells Fargo

Wells Fargo expects the Federal Reserve to cut interest rates by 25 bps to 3.50%-3.75% at its December meeting, despite potential dissent from FOMC members. The economists believe the data still points to more cuts ahead, with labor market data showing conditions softening and inflation showing little signs of rising. An updated summary of economic projections is likely to reinforce the case for further easing beyond December.