TechFlow, November 12 — According to Jinshi Data, Nomura now expects the Federal Reserve to hold interest rates steady in December, arguing that despite the U.S. government shutdown affecting the release of official data, recent indicators still show resilience in the labor market. In a report to clients, the bank said Chairman Powell's unexpectedly hawkish tone at the October press conference reinforced its view that the Fed may pause rate cuts after two consecutive reductions. Such a pause could reignite political pressure on the Fed, with President Trump expected to criticize the decision, claiming it prematurely restricts economic growth as the election year approaches.
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