CITIC Securities: It is expected that the Federal Reserve will cut interest rates by 25 basis points in December

According to Jinshi reports, Citic Securities research report states that in September 2025, the number of new non-farm jobs and the unemployment rate in the United States both exceeded expectations. The unemployment rate in September rose to 4.44%, increasing for three consecutive months, and the unemployment rate is more important for the Federal Reserve's decision on whether to cut interest rates in December. It will be difficult for the Federal Reserve to prove during the December meeting that the unemployment rates in October and November did not rise to 4.5% or higher, and it is expected that December will be a "close call" for an interest rate cut of 25 basis points.