Why the San Francisco Fed President Supports a Rate Cut in December

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• 00:03

  A key Fed official says she supports a December rate cut.

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  Plus, what's next for Trump's Ukraine peace plan?

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  This is fundamentally about sovereignty.

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  Ukraine's sovereignty and Ukraine's security.

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  And yes,

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  this plan would require Ukraine to relinquish some of the Donbass that they still hold a portion of.

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  And they've objected to that.

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  And why employees at big private equity firms are jumping ship?

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  leaving behind paydays that could be worth millions.

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  It's Monday, November 24th.

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  I'm Alex O'Sullivan for The Wall Street Journal.

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  This is the PM edition of What's News,

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  the top headlines and business stories that move the world today.

• 00:48

  In an exclusive interview with the Wall Street Journal,

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  San Francisco Fed President Mary Daley said today that she supports lowering interest rates at the central bank's meeting next month.

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  Daley doesn't have a vote on monetary policy this year, but her views are notable,

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  as she rarely has been in public opposition with Fed Chair Jerome Powell.

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  Powell is likely to play the key role resolving officials' differences on whether to cut rates in December.

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  Daily says she would cut rates

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  because a worsening jobs market is more of a risk right now than a big increase in inflation.

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