Fed Chair Powell's 89.7% Rate Cut Odds - Expert Warns Why Your Excitement Might Be Premature
Key Points
- Traders are betting heavily on a potential 25-basis-point in...
The Federal Reserve's interest rates currently sit between 4.25% and 4.50%, but traders are placing their bets like it's Black Friday at Best Buy. According to the CME Group's FedWatch tool, there's an 89.7% chance of at least a 25-basis-point cut at the next FOMC meeting. That's confidence levels usually reserved for predicting whether your teenager will oversleep on a school day.
Fed Chair Jerome Powell stirred this pot of optimism during his Jackson Hole symposium appearance, where he acknowledged cooling labor market conditions. Suddenly, everyone's reading his comments like tea leaves, c...
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