The Fed's third-in-command has set the tone: another rate cut remains a possibility.

Odaily Planet Daily reports that John Williams, the third-ranking official at the Federal Reserve and president of the New York Fed, stated that he believes the Fed still has room to cut interest rates again in the near future due to a weak labor market. Williams' comments suggest that another rate cut remains a possibility as Fed Chairman Powell attempts to reach consensus among a deeply divided group of policymakers ahead of the December 9-10 meeting in Washington. (Jinshi)