Fed Holds Rates Steady as Futures Price 28% Chance of April Cut, 64% for June

The Federal Reserve left interest rates unchanged on Jan. 29, with rate futures pricing a 28% chance of a cut in April—the final meeting of Jerome Powell's current term as Fed chair—and a 64% probability of a June reduction, Jin10 reports. Futures market data also suggest a strong likelihood of a second rate cut later this year.