PANews reported on November 27th that, according to Jinshi, JPMorgan Chase economists have changed their forecast, now believing the Federal Reserve will begin cutting interest rates in December, reversing the bank's assessment a week earlier that policymakers would postpone rate cuts until January. A research team led by the bank's chief U.S. economist, Michael Feroli, said on Wednesday that statements from several key Federal Reserve officials (especially New York Fed President Williams) supporting recent rate cuts prompted them to reassess the situation. After the delayed release of the September jobs report last week, JPMorgan Chase had initially predicted that interest rates would remain unchanged in December. Currently, JPMorgan Chase expects the Fed to implement two 25-basis-point rate cuts, one in December and one in January. "We are re-locking our final rate cut timing to January," Feroli wrote in a report to clients. "While the outcome of the next FOMC meeting remains uncertain, we believe the latest round of statements from Fed officials has tipped the scales in favor of a December rate cut."