Market pricing indicates that the likelihood of the Federal Reserve raising interest rates this year is greater than that of cutting them

Odaily reported that, according to the Wall Street Journal, following some hawkish signals from Federal Reserve officials, Wall Street traders are betting on the possibility of a Fed rate hike this year, even though the odds remain low. Data from CME interest rate futures shows that traders now see an 11% chance of a rate hike this year, up from 5% earlier in the day and 0% on Tuesday, while the probability of a rate cut hovers around 2%.