Fed Chair Powell speaks today - traders betting 90% on October rate cuts

Jerome Powell takes the stage this afternoon at the Greater Providence Chamber of Commerce, and every trader with a pulse is watching. The Fed already chopped rates to 4%-4.25%, and their own projections hint at another 50 basis points of cuts coming in 2025. That's like your favorite restaurant not just giving you a discount, but promising more discounts are in the works.

The Market's Crystal Ball Says "Cut, Cut, Cut"

Here's where it gets interesting: traders are putting 90% odds on a 25 basis point cut in October, with December looking equally likely. These aren't wild guesses - this i...