Investors Trim Bets on Fed October Hike After Warsh Comments
Dow Jones18:03
In his latest public appearance, Fed Chairman Kevin Warsh gave little away about what the central bank will do next. Investors took that as another indication the Fed won't be rushing to raise rates when it meets later this month.
Investors now see a 15% chance that the Fed raises rates at its Oct. 27-28 meeting, down from 28% a day earlier, according to CME Group data.
Odds that the Fed will raise rates this month shot up after Wednesday's hot inflation reading, but have since retreated. Several Fed officials have signaled in recent weeks they're comfortable waiting to raise rates again, and markets are pricing in the next increase in December.
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