CME's FedWatch data shows a significant shift in expectations, with a 78.8% probability of rates held steady in July and a notable chance of cuts in September.
CME's FedWatch data reveals a 78.8% probability that the Federal Reserve will keep interest rates unchanged in July, while a 21.2% chance exists for a 25 basis point cut. For September, the likelihood of rates remaining steady drops to 8.9%, with cumulative cuts of 25 and 50 basis points predicted at 72.3% and 18.8%, respectively.