The central bank isn’t likely to change its mind, even with two key data points and presidential election coming before their meeting, economists said

Federal Reserve policymakers are nearly certain to deliver a quarter-point reduction in short-term borrowing costs next week, traders bet on Tuesday, as a U.S. Labor Department report showed job openings dropped last month to their lowest since January 2021.

With inflation trending in the right direction and the unemployment rate ticking higher, another rate cut might be on the way next week.

Bank executives and industry advocates welcomed the Federal Reserve's interest rate reduction but warned that careful planning for future drops is necessary to avoid creating market turmoil.

The backup in Treasury yields may be a warning sign that the odds are slipping that the Federal Reserve will cut interest rates again at the next policy meeting on Nov. 7.