On that weekend in November, a long-standing issue finally had an answer. On the 25th, two key figures spoke almost simultaneously. Federal Reserve Governor Waller directly expressed support for a rate cut in December, although he also acknowledged that recent inflation numbers have indeed risen a bit, but insisted that this is just a temporary phenomenon. As for January next year? He was quite realistic—let's look at the data at that time. San Francisco Fed President Daly was even more straightforward: if the job market suddenly collapses, that would be much scarier than a rebound in inflation.