Probability of Fed Rate Cut in April Rises to 42% After CPI Release

Odaily News Traders have increased their bets that the Federal Reserve may not wait until after Fed Chair Powell's term ends in May to cut interest rates, following a report from the U.S. Bureau of Labor Statistics showing that underlying consumer price increases were slightly lower than expected. Although traders still view a June rate cut as the most likely outcome, the latest data forecasts suggest the probability of a Fed rate cut in April is around 42%, up from 38% before the data release. (Jin10)