CME Group FedWatch: December rate hike probability rises to 63.7%
|According to the CME Group FedWatch Tool, markets are now pricing a 63.7% probability of a second 25 bps rate hike in December compared to 60.6% seen on August 21. The odds of a 25 bps rate hike in September remains steady at 93.6%.
The meeting minutes published by the FOMC reiterated that the Committee that the labor market has continued to strengthen and that economic activity has been rising at a strong rate. "The Committee expects that further gradual increases in the target range for the federal funds rate will be consistent with sustained expansion of economic activity, strong labor market conditions, and inflation near the Committee's symmetric 2 percent objective over the medium term," the publication read.
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