Today: September 22, 2024
Today: September 22, 2024

Traders add to Fed rate cut bets as inflation eases

FILE PHOTO: Federal Reserve Board building in Washington
June 28, 2024
Reuters

(Reuters) - Market bets rose on Friday that the Federal Reserve will cut interest rates by September and do so again in December after a government report showed a key measure of U.S. inflation weakened last month.     Traders of futures contracts tied to the Fed policy rate now see about a 68% chance of a rate cut by the Fed's September meeting, up from about 64% earlier, after the data showed inflation by the personal consumption expenditures index did not rise at all from April to May.

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