By Howard Schneider, Ann Saphir CHICAGO/PALO ALTO, California (Reuters) -Federal Reserve officials appear more likely to cut interest rates this month after data showed the U.S. labor market remained strong but continued to cool in November,

Federal Reserve Bank of Cleveland President Beth Hammack said policymakers are “at or near” the point where the central bank should slow the pace of interest-rate reductions, citing a strong economy and still-elevated inflation.

The Federal Open Market Committee is most likely to cut interest rates again to 4.25% to 4.5% on December 18 according to fixed income markets.