The Fed Funds Rate Cut Watch Is On

Next week sees a Federal Open Market Committee (FOMC) meeting June 18-19 but markets don’t expect any fireworks, to judge by the CME’s fed futures market. (The FOMC sets the Federal funds rate, the interest rate at which depository institutions lend reserve balances to other depository institutions overnight, on an uncollateralized basis.)

The CME market has been a pretty good indicator of where investors believe rates will be at each FOMC meeting. Currently, futures have a probability o...

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