CME FedWatch: 66% Probability of 25bp Rate Hike in September
OdailyOdaily News: CME FedWatch tool data shows that as of 11:40 a.m. ET on Aug. 31, the probability that the Federal Open Market Committee (FOMC) will raise the federal funds rate target range by 25 basis points to 3.75%-4.00% at its September meeting is 66%.
The Federal Reserve has been raising interest rates since 2022 to combat rising inflation. Fed Chair Kevin Warsh said at the recent Jackson Hole symposium that the personal consumption expenditures (PCE) price index has risen 3.7% over the past 12 months and 4.1% over the past six months, both above the 2% target, and that the current priority should be to control prices.
Barclays expects the Fed to raise rates twice more this year, in September and December, for a cumulative 50 basis points, bringing the federal funds rate target range 50 basis points higher than current levels. (Forbes Digital Assets)
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