Traders cut their expectations for another big rate cut by the Federal Reserve to zero by next June.

Odaily News According to CME Fedwatch data, after the Fed cut interest rates by 50 basis points in September, the federal funds futures rate market expected the probability of the Fed further cutting interest rates by 175 basis points or more by June next year to surge to 77%. Traders now believe that the probability of the Fed cutting interest rates sharply again during this period is back to zero. The Fed's past forecasts have been terrible. Skeptics, including Wall Street Journal columnist James Mackintosh, point out that Fed policymakers are widely divided on where interest rates will ultimately stay. (Jinshi)