By Ambar Warrick, Investing.com
The Federal Reserve is now expected to begin cutting interest rates in May 2024, according to the CME Fedwatch tool, after Chair Jerome Powell shot down bets on a March rate cut on Wednesday.
The tool shows Fed Fund futures traders pricing in a 60.8% chance that the Fed will cut interest rates by 25 basis points to a range of 5% to 5.25%.
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