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FED Rate Cut Expectations: 96% Chance of a 25 Basis Points Cut Today
The US Federal Reserve is all set to hold its final meeting for the year 2024 today, and market participants are eagerly waiting for any potential announcements. Amidst this anticipation, one thing has become increasingly apparent – there’s an extremely high probability of a 25 basis points rate cut.
According to Kalshi, a reputable platform providing real-time data insights, there is now at least a staggering 96% chance that the Federal Reserve will make the announcement of a 25 basis point interest rate reduction. The probability of this happening has been consistently increasing over the past few days.
The likelihood of such an event taking place becomes even more crucial considering the current economic conditions. Inflation pressure, as measured by various metrics including the Consumer Price Index and Producer Prices index, has shown signs of rising lately. This development has led many experts to speculate that the Federal Reserve might opt for a rate cut to stabilize the economy.
It is essential to keep in mind that the US Fed has already executed at least two interest rate cuts this year. If today’s meeting does result in another rate cut, it would bring the total number of reductions to three for 2024.
Source: coinpedia.org
