Markets anticipate rate hike ‘skip’ at FOMC meeting

2023-6-13 11:12

Quick Take The U.S. Consumer Price Index (CPI) report is due at 08:30 ET today and will influence the outcome of the FOMC meeting tomorrow. April’s year-over-year CPI came in at 4.9%. May’s is forecasted to come in at 4.0%. May’s year-over-year core CPI is forecasted to come in at 5.3%. This metric refers to CPI less volatile components, including food and fuel. Currently, markets are 79% in favor of a rate hike “skip” following tomorrow’s FOMC meeting. The current U.S. Fed Funds Rate is 5.00-5.25. Fed Funds: (Source: CME)

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No Imminent Crypto Market Upurge Expected Following Release Of June 2022 US CPI Data

At the last meeting in mid-June 2022, the Federal Open Market Committee (FOMC)  announced their biggest interest rate hike in four decades of 75 basis points. Following this interest rate announcement, the crypto markets collapsed in anticipation of future interest rate hikes to curb rising inflation amidst fears of a looming global recession. At the […]

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