Traders expect Fed to resume rate cuts in June
Photo: CNN
The Federal Reserve is seen restarting interest-rate cuts in June, traders bet on Tuesday, as government data showed U.S. producer prices were unexpectedly flat last month and weekly jobless claims fell.
Short-term interest-rate futures after the data were pricing about a 75% chance of a quarter-point reduction to the Fed's policy rate by June, little changed from what was seen prior to the data, News.Az reports, citing Reuters.
They continue to price in a total of three rate cuts for the year.
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