CME FedWatch shows 98.6% chance of Fed rate hold in June

According to the CME FedWatch Tool, the probability of the Federal Reserve holding interest rates steady in June is 98.6% (previously 98.8%), while the chance of a 25 bp cut is 1.4% (previously 1.2%). The probability of a rate hold through July is 96.5% (previously 94.6%), with the cumulative probability of a 25 bp cut at 3.4% (previously 5.4%). For September, the probability of a hold is 96.1% (previously 92.7%), with the cumulative probability of a 25 bp cut at 3.8% (previously 7.2%).