In a move which shouldn’t catch any plugged-in readers by surprise, the Federal Reserve not only failed to raise interest rates today but signaled a more “patient” approach in its adoption of any future hikes.

Despite the Fed having previously signaled expectations for two rate hikes this year, traders were wagering against any more rate hikes in 2019, as we first reported a few weeks ago.

And in fact, according to an analysis of the futures market, the probability of any hike by the end of the year has now dropped to 10 percent and change.

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