PANews reported on November 12 that Nomura Securities now expects the Federal Reserve to keep interest rates unchanged in December, arguing that recent indicators still show a resilient job market despite the impact of the US government shutdown on official data releases. In a report to clients, the bank said that Fed Chairman Powell's unexpectedly hawkish tone at the October press conference reinforced its view that the Fed might pause rate cuts after two consecutive cuts. A pause in rate cuts could reignite political pressure on the Fed, with President Trump expected to criticize the decision, claiming it's prematurely restricting economic growth in an election year.