Home Economy News Traders stick to bets on June Fed rate cut after economic data

Traders stick to bets on June Fed rate cut after economic data


Traders stick to bets on June Fed rate cut after economic data By Reuters

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Published Mar 14, 2024 08:55AM ET
Updated Mar 14, 2024 09:01AM ET

© Reuters. FILE PHOTO: Flags fly over the Federal Reserve building on a windy day in Washington, U.S., May 26, 2017. REUTERS/Kevin Lamarque/File photo

(Reuters) – Stronger than expected producer prices and weaker-than-expected consumer spending reported Thursday did little to budge financial market bets on a June start to Federal Reserve interest-rate cuts, based on prices of futures contracts that settle to the U.S. central bank’s policy rate. 

Fed policymakers meeting next week are looking for data that gives them more confidence inflation is on a path to their 2% goal, allowing them to start reducing the policy rate.

They are widely expected to keep the rate in the 5.25%-5.5% range until their mid-June meeting, with two more rate cuts seen likely by year end. 

Traders stick to bets on June Fed rate cut after economic data

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