With investors looking toward Friday’s November nonfarm-payrolls report, market participants see the potential that it could be overshadowed by an entirely different set of data: next Wednesday’s consumer-price index for the same month.

The Federal Open Market Committee is most likely to cut interest rates again to 4.25% to 4.5% on December 18 according to fixed income markets.

St. Louis Federal Reserve President Alberto Musalem said on Wednesday he expects the U.S. central bank will be able to continue to cut interest rates but warned the pace of future actions has grown less clear.