Futures on the fed funds rate, which measures the cost of unsecured overnight loans between banks, have priced in a nearly 60% chance of a 50 basis-point...
NEW YORK - Futures on the fed funds rate , which measures the cost of unsecured overnight loans between banks, have priced in a nearly 60% chance of a 50 basis-point rate cut by the Federal Reserve on Wednesday, LSEG calculations showed.
For 2024, rate futures have factored nearly 120 bps in easing, and about 250 bps in cuts by September of 2025. "Yet short-term interest rates remain far above neutral. This disparity needs to be corrected as quickly as possible," Dudley wrote.
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