After the Federal Reserve's October interest rate decision and the press conference held by Fed Chair Jerome Powell, Nomura Securities adjusted its forecast for a possible Fed rate cut in December. Powell stated at the press conference that a rate hike in December is not inevitable. Nomura Securities' move aligns with Powell's stance; amid a month-long government shutdown severely affecting economic data releases, he is unlikely to make any premature commitments. Previously, Nomura Securities had expected the Fed to cut rates by 25 basis points in December. However, current conditions indicate a shift in market expectations. The federal funds futures market now estimates the probability of another rate cut before year-end at approximately 72%, down from about 91% prior to the Fed's decision.