Cleveland Federal Reserve President Hammack signaled that the Federal Reserve may need to raise interest rates to rein in inflation that remains persistently high. The remarks pointed to a still-hawkish policy stance at a time when rate markets are assigning relatively low odds to a move in July but a much higher probability to action in September. According to the figures cited in the report, interest rate futures traders currently see about a 15% chance of a Fed rate hike in July and roughly a 65% chance of a hike in September. The update was reported by Odaily and cited Jin10 as the source. The latest pricing shows that market participants are placing greater weight on a possible move later in the quarter rather than at the next meeting.
Cleveland Federal Reserve President Hammack has signaled that the Federal Reserve may need to raise interest rates to curb inflation that remains persistently high.
Interest rate futures traders currently put the odds of a July rate hike at about 15%, while the probability of a September hike stands at around 65%, according to Jin10, as cited by Odaily.
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