$iShares Russell 2000 ETF(IWM)$
BREAKING: Odds of a Fed rate cut by September 2024 skyrocket to 83% after June CPI inflation, according to @Kalshi.
June 2024 marked the first NEGATIVE month-over-month inflation print since May 2020.
Headline inflation is now at a 12-month low and 100 basis points away from the Fed's 2% target.
Prior to the CPI inflation report today, prediction markets saw a 67% chance of rate cuts by September.
Exactly 1 year ago, the Fed stopped raising interest rates.
Does the Fed have the green light to cut rates?
Prediction markets still see a base case of 2 interest rate cuts in 2024.
However, we expect the Fed to maintain their "meeting by meeting" approach.
The Fed will not promise policy moves in either direction.
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