Fed rate hold probability for April stands at 98.4%

According to the CME FedWatch Tool, the probability of the Fed holding interest rates steady in April is 98.4%, while the probability of a 25 bp hike is just 1.6%. For the June meeting, the cumulative probability of a 25 bp rate cut stands at 1.7%, with a 96.8% chance of rates remaining unchanged and a 1.5% chance of a cumulative 25 bp hike.