[Probability of a 25 Basis Point Rate Cut by the Fed in December Drops to About 30%] The Federal Reserve's October meeting minutes reveal deepening divisions among committee members on whether to proceed with another rate cut in December, with some officials stating there is a "lack of sufficient justification." The minutes noted that the last meeting resulted in a 10-2 vote to cut rates by 25 basis points to 3.75%-4%, though several participants opposed the cut or were open to holding rates steady. Following delays in employment and inflation data due to the government shutdown, the willingness to support a December rate cut has declined. The market-implied probability of a rate cut has dropped to approximately 33%. The minutes also indicated that regardless of the December decision, there could be at least three dissenting votes; most officials still believe further rate cuts after December may be necessary. According to CME's "FedWatch": The probability of a 25 basis point rate cut by the Federal Reserve in December is 32.7% (down from 48.9% yesterday), while the probability of maintaining rates is 67.3%. The probability of a cumulative 25 basis point rate cut by January next year is 49.9%, maintaining rates is 33.8%, and a cumulative 50 basis point rate cut is 16.3%.