Federal Reserve officials appear more likely to cut rates this month after data showed the U.S. labor market remained strong but continued to cool in November, with a deeper debate to come next year over whether to pause further rate reductions.

For many investors, Friday's jobs report confirmed expectations that the Federal Reserve is on track to cut interest rates

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

The conventional wisdom among economists and traders is that the Federal Reserve is going to cut its benchmark interest rate by another quarter of a percentage point on Dec. 18, and then pause at its first meeting in 2025.

In her first major policy speech, Federal Reserve Bank of Cleveland President Beth Hammack said on Friday she’s keeping her options open when it comes to the central bank’s next policy meeting, as broader economic conditions continue to argue for a slowdown in the pace of rate cuts.

Cleveland Fed President Beth Hammack favors taking a slow pace in adjusting the Federal Reserve's policy rate, she said Friday at the City Club of Cleveland, according to prepared text. The strength of the economy leads her to support a slower pace of rate cuts than she had expected in September when Fed officials last submitted their economic