survey conducted by Reuters from October 15th to 21st showed that economists expect the Fed to cut interest rates by 25 basis points next week and in December. However, there is still serious disagreement among economists about the level of interest rates at the end of next year. A month ago, economists expected only one rate cut this year. But this new forecast follows a recent shift by Fed policymakers to support further rate cuts. Of the 117 economists surveyed, all but two predict that the Fed will cut rates by another 25 basis points on October 29th, bringing rates to 3.75%-4.00%. Two economists predict a 25 basis point cut in October and a 50 basis point cut in December. The percentage of economists expecting another rate cut in December has dropped to 71%. Market traders' expectations are even more firm, as interest rate futures contracts have fully priced in two more rate cuts this year.