Fed Has 65.8% Probability of Holding Rates Steady in July, CME Data Shows

According to CME Fed Watch tool, the Federal Reserve has a 65.8% probability of holding rates steady in July and a 34.2% probability of raising them by 25 basis points.

Looking further ahead, CME data shows a 32% probability of no rate change through September, with a 50.5% probability of a cumulative 25 basis point increase and a 17.6% probability of a 50 basis point increase by that date.