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

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

This is fundamentally about sovereignty, Ukraine's sovereignty and Ukraine's security.

And yes, this plan would require Ukraine to relinquish some of the Donbos that they still hold a portion of.

And they've objected to that.

And why employees at big private equity firms are jumping ship, leaving behind paydays that could be worth millions.

It's Monday, November 24th.

I'm Alex O'Souille for the Wall Street Journal.

This is the PM edition of What's News, the top headlines and business stories that move the world today.

In an exclusive interview with the Wall Street Journal, San Francisco Fed President Mary

Daly said today that she supports

lowering interest rates at the central bank's meeting next month. Daly doesn't have a vote on monetary

policy this year, but her views are notable, as she rarely has been in public opposition with Fed Chair Jerome

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

Daly says she would cut rates because a worsening jobs market is more of a risk right now than a big increase in inflation.

Growing hopes for a rate cut next month are helping revive stocks.

Market bets on a December rate reduction rose to 80%, up from about 40% a week ago.

Chip stocks and other big technology shares jumped today, and the NASDAQ rose 2.7% leading gains.

The S&P rose 1.6%, and the Dow added 0.4%.

As we mentioned on this morning show, the White House says it has made progress towards ending the war in Ukraine after this weekend's talks in Geneva.

European diplomats say that negotiators found some common ground on the plan.

But European officials familiar with the matter say the biggest issues will be left to President Trump and Ukrainian President Volodomir Zelensky to work out.

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