The Globe and Mail reports in its Monday edition that the U.S. Federal Reserve will announce its latest rate decision on Wednesday afternoon. The Globe's Mark Rendell writes that the Fed's monetary policy stance remains restrictive, even as the U.S. labour market has weakened. Investors are betting the Fed will cut again this week. That would take the federal funds target range to 3.5 per cent from 3.75 per cent. Royal Bank of Canada economists Nathan Janzen and Claire Fan noted in a client update that their base case a month ago did not predict a December Fed rate cut, citing U.S. inflation above the 2-per-cent target and Chairman Jerome Powell's cautious remarks amid the government shutdown that limited economic data releases. Mr. Janzen and Ms. Fan noted that a cut is likely coming, as recent statements from Fed committee members indicate. "With softer data during the blackout, we doubt the hawks will strongly oppose it," they said. The future of U.S. monetary policy is uncertain as speculation grows about who will succeed Mr. Powell as Fed chair next spring. Kevin Hassett, a close ally of President Donald Trump, is the leading candidate and is viewed by analysts as a dovish choice favouring lower interest rates.