Further Fed rate cut looks likely this week—but beyond that, it’s murkier

The outlook: Even if US presidential election results remain up in the air on Thursday, when the Federal Open Market Committee’s two-day meeting concludes, that uncertainty isn’t likely to influence the Fed’s decision on benchmark interest rates. It’s probably going to slash rates for the second time this year, following up on its initial 50 basis point cut in September.

• The CME Group's FedWatch tool pegged the probability of an interest rate cut in the amount of 25 basis points at more than a 99% certainty.
• The federal funds rate will almost certainly fall again, this time to a range between 4.50% and 4.75%