Fed's Williams says rate cut likely in "near term" as traders ramp up bets on Fed rate cut in December

Traders on Friday upped their bets that the Federal Reserve will cut interest rates for the third time in a row at its December meeting after Williams said the central bank could cut rates in the "near term", according to foreign media reports. Short-term interest rate futures are now pricing in a 57% chance of a rate cut in December, up from below 50% previously.