Federal Reserve has 98.5% probability of keeping rates unchanged in June

According to Odaily, The CME FedWatch Tool shows the probability of the Federal Reserve keeping rates unchanged in June is 98.5%, with the probability of a cumulative 25-basis-point rate cut at 1.5%. The probability of the Fed holding rates steady in July is 91.3%, with a 7.4% chance of a cumulative 25-basis-point hike and a 1.4% chance of a 25-basis-point cut. (Jin Shi)