Federal Reserve Board opens its two-day June meeting today. Very little chance of any interest rate cut.
The Feds last met in late April. Jerome Powell’s last meeting as chairman, Kevin Warsh, was sworn in on May 22, becoming the 17th chairman of the board. Recent economic reports, escalation of action in Iran, leaving very little chance of any Fed action on interest rates.
In fact, CME’s FedWatch tool shows 98.6% chance rates will remain unchanged. Looking ahead, the board meets next late July 28th and 29th. CME FedWatch today showing an 85% chance of no change on that date.
Audio Reporting by Mark Oppold for Southeast AgNet.
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