Federal Reserve's Williams indicated a possible rate cut "nearly," prompting traders to increase their bets on a December rate cut.

Odaily Planet Daily reports that traders increased their bets on a third consecutive interest rate cut by the Federal Reserve at its December meeting on Friday, after Fed official Williams indicated that the Fed might cut rates "in the near future." Short-term interest rate futures now reflect a 57% probability of a Fed rate cut in December, significantly higher than the previous estimate of below 50%.