Barclays analysts forecast a 25 basis point rate cut by the Federal Reserve in December, despite internal divisions. Fed Chair Jerome Powell is expected to lead the decision, with CME FedWatch data indicating a 71.5% probability of a cut. The decision could see six voting members favoring a hold and five supporting a cut.
The potential rate cut is anticipated to support Bitcoin's recovery, aligning with Wells Fargo's Tom Porcelli's view that a weakening labor market increases the likelihood of a cut. Analysts suggest it may be challenging for Fed members to oppose Powell's stance.
Barclays Analysts Anticipate Fed Rate Cut in December
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