The money is rising on the likelihood that Wednesday's quarter-point rate hike was the last one before the Fed goes on pause
Federal Reserve officials may not know it yet, but they're not raising interest rates anymore in the current cycle. At least that's the opinion across much of Wall Street, where the money is rising on the likelihood that Wednesday's quarter-point rate hike was the last one before the Fed goes on pause, then ultimately starts cutting.
On top of that, a Commerce Department gauge that Fed officials follow closely showed inflation running at just a 2.6% pace for the quarter, well below the first three months of the year and shy of the 3.2% Dow Jones estimate. "Our Fed views remain unchanged," wrote Matthew Luzzetti, chief U.S. economist at Deutsche Bank.
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