According to @CNBC, market-implied odds indicate the Federal Reserve is unlikely to cut rates at the December 2025 meeting following the release of delayed September data (source: CNBC tweet dated Nov 20, 2025). For trading, this sets a hold-as-base-case path in rate futures into the December FOMC, aligning positioning with no near-term easing priced by markets (source: CNBC tweet dated Nov 20, 2025).