[Next Week's Macro Outlook: The Fed's Highly Controversial Rate Cut is Coming, Gold Enters Volatility Mode] With U.S. economic data such as the 'ADP Employment Report' and PCE largely supporting expectations for a Fed rate cut next week, Wall Street's panic has come and gone quickly, and investors have returned to low-volatility, high-conviction bets on risk assets. The Fed's interest rate decision will be the focus next week. Following recent weak U.S. employment data, the market widely expects the Fed to lower interest rates. Below are the key points the market will focus on in the coming week: Tuesday 0:00, U.S. November New York Fed 1-Year Inflation Expectations; Tuesday 23:00, U.S. October JOLTS Job Openings; Wednesday 3:00, Federal Reserve FOMC announces interest rate decision and Summary of Economic Projections; 3:30, Fed Chair Powell holds a monetary policy press conference; Thursday 21:30, U.S. Initial Jobless Claims for the week ending December 6, U.S. September Trade Balance; Friday 1:00, Federal Reserve releases U.S. household financial health data from the Q3 2025 Financial Accounts report; Friday 21:00, 2026 FOMC voting member and Philadelphia Fed President Paulson delivers a speech on the economic outlook; 21:30, 2026 FOMC voting member and Cleveland Fed President Harker delivers a speech; Friday 23:35, Chicago Fed President Goolsbee participates in a moderator dialogue ahead of the Chicago Fed's 39th Annual Economic Outlook Symposium. The Fed's dot plot from September suggests two rate cuts in 2026. In contrast, the current market expects 63 basis points of easing in 2026, implying a greater likelihood of three rate cuts next year.