Institutional analysts predict four interest rate cuts next year after the new Federal Reserve chairperson takes over

Jay Hatfield, analyst at Infrastructure Capital, said the Fed was not expected to cut rates in December unless the jobs data was very weak, but the data was the exact opposite of his team's expectations. "We still expect the Fed to hold its ground in December. We are confident that inflation is gradually declining and that there will be four rate cuts next year after the new Fed chair takes over. So the 10-year Treasury yield should be around 4 per cent, which is good for stocks."