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With inflation still elevated, Federal Reserve officials expressed caution at their last meeting about cutting interest rates too quickly, adding to uncertainty about their next moves. The minutes don't provide much guidance about what the Fed will do at its next meeting Dec. 17-18. Wall Street investors see the odds of another quarter-point reduction in the Fed's key rate at that meeting as nearly even, according to CME Fedwatch.

Emerging markets are in for a tough and uncertain year due to policy shifts in the United States and uncertain growth in China, JPMorgan said in its annual outlook, predicting emerging markets bond funds were in line for sizeable outflows. "EM growth faces significant uncertainty in 2025, caught between two giants - China and the U.S. – with policy changes in the latter potentially delivering a large negative supply shock that will have spillovers across EM," JPMorgan said on Tuesday. Looking at emerging markets ex-China, JPMorgan predicted growth to moderate to 3.0% from 3.4%.

(Bloomberg) -- Federal Reserve officials indicated broad support for a careful approach to future interest-rate cuts as the economy remains solid and inflation slowly cools, minutes from their latest policy meeting showed.Most Read from BloombergNew York City’s ‘Living Breakwaters’ Brace for Stormier SeasIn Italy’s Motor City, Car-Free Options Are GrowingIn Kansas City, a First-Ever Stadium Designed for Women’s Sports Takes the FieldNYC's Underground Steam System May Be Key to a Greener FutureNY

The Federal Housing Finance Agency is increasing the size of home loans that the government can guarantee against default as it takes into account rising housing prices. Beginning next year, mortgage buyers Fannie Mae and Freddie Mac will be able to acquire loans of up to $806,500 on single-family homes in most of the country, the agency said Tuesday. FHFA oversees Fannie Mae and Freddie Mac, which buy home loans from banks and other lenders, guaranteeing them against default.

(Bloomberg) -- Federal Reserve Bank of Chicago President Austan Goolsbee said it would be “perfectly sensible” for the US central bank to slow down the pace of its interest-rate cuts as it approaches what it deems a neutral setting for monetary policy.Most Read from BloombergNew York City’s ‘Living Breakwaters’ Brace for Stormier SeasIn Italy’s Motor City, Car-Free Options Are GrowingIn Kansas City, a First-Ever Stadium Designed for Women’s Sports Takes the FieldNYC's Underground Steam System Ma

(Bloomberg) -- OPEC+ has few options when it comes to bringing back the oil production capacity it has been keeping off the market, according to some of the world’s top energy trading houses.The group will discuss on Dec. 1 whether to return barrels to the market, and senior trading executives said they expect the supply increase to be pushed back again. Oil prices have dropped toward $70 a barrel due to weaker-than-expected demand this year and the outlook for strong supply in 2025.“I think tha

(Bloomberg) -- Saudi Arabia outlined plans to trim spending in 2025 after overshooting targets this year in an effort to progress a trillion-dollar economic transformation plan.Most Read from BloombergNew York City’s ‘Living Breakwaters’ Brace for Stormier SeasIn Italy’s Motor City, Car-Free Options Are GrowingIn Kansas City, a First-Ever Stadium Designed for Women’s Sports Takes the FieldNYC's Underground Steam System May Be Key to a Greener FutureNYC Gets Historic Push for 80,000 Homes With $5