Traders reduced their bets on the Federal Reserve's interest rate cut next year on Tuesday as the results of the U.S. presidential election vote count were released late in the evening. Interest rate futures traders continue to bet that the Fed will cut interest rates by 25 basis points this week and in December, but now expect the Fed to stop cutting interest rates after cutting 25 basis points twice in the first half of 2025, and the target range for the federal funds rate will drop to 3.75%-4%.