The Federal Reserve officials are set to convene in Washington, D.C., for their December Federal Open Market Committee (FOMC) meeting next week, with investors anticipating central bank officials to cut interest rates by 25 basis points. However, the future trajectory of monetary policy remains uncertain as progress on inflation has stalled. This development may prompt the Fed to adopt a more measured approach to monetary easing in the coming months.

After the release of November's Consumer Price Index (CPI) earlier this week, former Cleveland Fed President Loretta Mester told Yahoo Finance that the Fed's rate policies may need to be "rethought."

Yahoo Finance Fed reporter Jennifer Schonberger explores various economic perspectives and potential scenarios surrounding the upcoming monetary policy decisions.

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This post was written by Angel Smith