Macquarie FX and rates strategist Thierry Wizman said in a note the Fed’s December meeting is still some way off and a range of developments could prevent a rate increase despite a baseline expectation of a 25bp hike. He flagged risks that could cause the Fed to abandon a December hike or rule out a 50bp move, including a US government shutdown, easing geopolitical tensions that push oil lower, and a deteriorating AI outlook triggering further US equity selling.