CME FedWatch: Markets price 98.1% odds Fed keeps rates steady in June; July hike chance seen at 13.6%

ChainCatcher, citing CNBC, reported that CME's FedWatch tool is signaling strong expectations for the Federal Reserve to leave interest rates unchanged at its June meeting. The tool puts the probability of no change at 98.1%, with a 1.9% chance of a cumulative 25-basis-point rate cut. Looking to July, FedWatch assigns an 84.7% probability to rates remaining steady. The odds of a cumulative 25-basis-point hike stand at 13.6%, while the chance of a cumulative 25-basis-point cut is 1.6%.