[Traders Maintain Bet on Two Fed Rate Cuts in 2026; Policy Minutes Fail to Shift Market Expectations] Despite Federal Reserve officials reaching a consensus on a rate cut in December and hinting at potential further easing in the future, this has not led traders to significantly raise their expectations for a decline in borrowing costs. The market still leans toward betting on two rate cuts next year, rather than the three anticipated at the beginning of December. Although policymakers emphasized concerns about risks in the labor market, traders are likely waiting for subsequent data to validate these worries. (Cailian Press)