Deutsche Bank still expects the Federal Reserve to cut interest rates in December.

According to Odaily Planet Daily, Deutsche Bank expects the Federal Reserve to cut interest rates by 25 basis points in December, then pause rate cuts until the third quarter of 2026. The bank also anticipates another 25 basis point cut in September next year after the new Fed leadership takes office. Despite mixed comments from the Fed—some warning of insufficient inflation cooling, others pointing to a weak labor market—the bank says its outlook remains unchanged.