The Consumer Price Index rose from 2.6% in October to 2.7% in November, in line with economist predictions. Here’s a look at what experts expect from the Federal Reserve in the months ahead. 

Experts Weigh In: Most experts are anticipating another quarter-point rate cut from the Federal Reserve next week after November's inflation data came in as expected. 

Markets are also betting on a 97% chance of a 25-basis-point rate cut, according to CME FedWatch, which would lower the federal funds rate to a range of 4.25%-4.5%.

Read More: Inflation Rises As Expected In November, Sustains Hopes For December Interest Rate Cut

"The CPI report this morning was a yawner," University of Akron's Dennis Gartman told Yahoo Finance following the print. 

"There were no surprises whatsoever. … If I were a Fed governor or Fed president, I would be voting to do nothing at the next meeting," Gartman added. 

Chris Zaccarelli, chief investment officer for Northlight Asset Management, said that the slightly higher inflation rate will not "be enough to spoil Christmas." He expects another rate cut next week and for the markets to react positively into the end of the year. 

"The markets have the green light to rally into the end of the year, with GDP growing, the labor market – and consumer spending – holding up," Zaccarelli said. 

He also sees the Fed looking past minor fluctuations in the monthly data and continuing to cut rates next year. 

"Despite the fact that the series is a little noisy from month-to-month, we believe the Fed is likely to look through these fluctuations and continue on their easing path," Zaccarelli said. 

However, some experts see the Federal Reserve reevaluating its path into 2025 following months of steady CPI prints. 

"Inflation has not been showing much progress over the past four months,” former Cleveland Fed president Loretta Mester told Yahoo Finance. “There’s going to be a rethink about what that appropriate policy path may have to look like next year.”

Read Next: 

SoFi Unlocks SpaceX Exposure For Retail Investors: Here’s How

Image: Shutterstock.