Beyond Markets The Week in Markets: December Fed meeting could be its strangest ever
Nov 24, 2025
The discussion kicks off with a deep dive into the shifting odds of a Federal Reserve rate cut, influenced by recent comments from key policymakers. A tied vote at the upcoming FOMC meeting becomes a real possibility. The conversation touches on the unease in markets driven by high AI spending and signs of a Bitcoin bear market. Additionally, a leaked Ukraine peace proposal raises implications for gold demand. As tech faces layoffs and skeptical growth forecasts, current conditions are compared to past market bubbles, revealing concerning technical patterns.
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Episode notes
One Fed Voice Can Move Markets
- John Williams' dovish remark swung December cut odds from ~30% to >60% overnight.
- That highlights how a single careful comment from a key Fed voter can rapidly reprice markets.
Inflation Expectations Near Target
- Atlanta Fed's Business Inflation Expectations fell to 2.2% one year ahead.
- That reading sits close to the Fed's 2% target and underpins easing rate-cut concerns.
PMIs Point To Ongoing Expansion
- November PMIs showed expansion across manufacturing and services, signalling near-term GDP strength.
- Strong PMIs make widespread layoffs less likely from pure demand weakness.