[Fed's Silent Period Approaching, CITIC Securities Maintains December Rate Cut Expectation] CITIC Securities' research report states that New York Fed President Williams hinted at a possible further rate cut in December, with the market currently estimating a 70% probability of a Fed rate cut in December. The Fed will enter its silent period on November 29, during which Chairman Powell has no scheduled public speeches or media interviews. Williams' remarks may be the last official statement to influence market expectations. CITIC Securities predicts a 25 basis point rate cut in December, with market attention possibly shifting to issues such as AI companies issuing bonds and cryptocurrency trends.