According to the CME Group FedWatch Tool, markets are now pricing a 53.2% probability of a 25 bps rate hike in December compared to 56.2% seen on Wednesday. Furthermore, the September rate hike odds edged down to 83.5% from 85.7%.
In an interview with CNBC earlier in the session, US President Donald Trump said that he was not thrilled with the Fed’s rate hikes and argued that higher rates would nullify the work that his administration has done to boost the economic recovery.
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