On December 4th, according to Caijing News (Editor Huang Junzhi), on Tuesday (December 3rd) Eastern Time, Federal Reserve officials repeatedly hinted at supporting further rate cuts, believing that the inflation rate will drop to the 2% target level. However, they did not mention their views on whether there will be another rate cut at the next interest rate meeting two weeks later.

On the same day, Mary Daly, President of the Federal Reserve Bank of San Francisco, said in an interview: 'In order to keep the economy in a good state, we must continue to adjust policies. Whether it is in December or at some later time, we will have the opportunity to debate and discuss this issue at the next meeting, but the key is to maintain a policy adjustment to adapt to the economic situation.'

'I think we need to keep an open mind and collect more information,' she added.

In Daly's view, the current supply and demand are roughly balanced, inflation is continuing to decline, and the Federal Reserve should continue to focus on lowering interest rates but also maintain restraint, 'this is important.' She believes that the so-called neutral interest rate (neither stimulating nor suppressing economic growth) may already be 'close to 3%.'

However, considering the specific value of the neutral interest rate is still uncertain, Daly believes that the Federal Reserve should slowly cut interest rates. She said, 'I think we can take it slow and adjust as the economy provides us with more information.'

On the same day, Chicago Fed President and 'dovish' Austan Goolsbee also made a speech on a program but did not reveal his views on the results of the December Federal Reserve meeting. He only indicated that interest rates should significantly decrease from their current level over the next year.

'In my view, interest rates may significantly decrease from the current level next year, but we meet every six weeks as the situation evolves. However, I believe rates will and should decrease, based on the fact that inflation is declining,' he said.

Finally, Adriana Kugler, a Federal Reserve Board member who has long had voting rights at FOMC meetings during her tenure, also revealed almost no signals in her speech on Tuesday. She simply stated that the Federal Reserve will make decisions at successive meetings, and the current policy is well prepared to deal with uncertainty.

Kugler stated at the Detroit Economic Club: "I believe that the economy is in good shape after significant progress in achieving the twin goals of maximizing employment and maintaining price stability in recent years. The labor market remains solid, and inflation seems to be steadily progressing towards the 2% target."

"The latest employment data on Friday will bounce back, maybe not fully, but we will see some (clues). The United States may have essentially reached full employment, the question is whether we can maintain this state." she added.

In recent times, Federal Reserve officials have been avoiding providing too much guidance on the interest rate path, especially since Trump was re-elected as President of the United States last month. Analysts warn that Trump's promises regarding import tariffs, tax cuts, and immigration crackdowns could alter the economic outlook in the coming months.

As mentioned by Daley, Goolsbee, and Kugler on Tuesday, the Federal Reserve cannot react to policies that have not been announced. They are all closely monitoring the latest data to weigh the decisions to be made. The next two weeks will see a large amount of important data released, including the monthly employment market report on Friday, and the November Consumer Price Index (CPI) on the following Wednesday.

Federal Reserve Chairman Powell will deliver a speech on Wednesday, which is expected to be his last public speech before the December meeting. According to the CME FedWatch tool, the market still expects a high probability (72.9%) of a 25 basis point rate cut this month.