U.S. Treasury Secretary Scott Bessent said on Tuesday the Federal Reserve's system of managing interest rates is struggling and needs to be simplified.

For some investors, they bet on a vehicle known as "Federal Funds futures" to hedge. For others, it's just that — a bet.

The differences have been exacerbated by the government shutdown’s interruption of economic data, a particular challenge for a Fed that Chair Jerome Powell has often described as “data dependent.” The government’s last jobs report was for August, and inflation for September.

The reported frontrunner to take over as Federal Reserve chair in May has a recent track record of advocating for the central bank lowering interest rates.

Gold prices rose more than 1% to a near two-week high on Wednesday, after benign U.S. economic data reinforced expectations of a Federal Reserve interest rate cut next month, supporting non-yielding bullion.

Some mortgage rate scenarios are more likely to occur than others next year. Here's what borrowers can do in each.