Financial Times: The Federal Reserve will face a shortage of information at its December meeting.

The Financial Times analysis points out that the minutes of the Federal Reserve's October policy meeting will be released early Thursday morning Beijing time, at a time when investors are experiencing increasing uncertainty about the path of US interest rates. Last month, the Fed lowered its benchmark interest rate to a range of 3.75%-4%, but investors' hopes for a further rate cut in December were dashed. The market had fully priced in a 25 basis point rate cut in December before the October meeting, but Powell's statement that "further rate cuts at the end of the year are not a given" quickly reshaped market expectations. Boston Fed President Collins further questioned next month's rate cut this week, emphasizing that "the threshold for implementing additional easing in the near term is relatively high." Data gaps will be a major obstacle to the Fed's decision. The 43-day US government shutdown ended this week, during which key labor market and inflation data were all suspended, making it difficult for investors to judge the true health of the world's largest economy. Morgan Stanley analysts pointed out in a client report that data gaps and delayed releases of labor market indicators mean that "the Fed will face an incomplete information dilemma when making decisions at its December meeting."