Trader sentiment assigns a 72.5% implied probability to a 25 basis point rate increase at the December FOMC meeting, driven by resilient economic growth and inflation readings that have remained above the Fed’s 2% target in recent months. Robust labor market data, including steady nonfarm payrolls and contained unemployment, have reinforced expectations that policymakers will extend the tightening cycle rather than pause. The 25.5% probability attached to no change captures residual uncertainty around the exact timing of further hikes, while lower odds for larger moves or cuts reflect limited evidence of rapid disinflation or sharp economic weakening. Markets are now focused on the next CPI release and any shifts in Fed communications ahead of the December decision.