JOBS BOOST: What the Labor Department report means for the president's Bidenomics plan.
Ninety-two percent of market participants still anticipate a 25-basis-point rate hike this month, according to the
That compares to just 7.6% of traders who expect the Fed to hold rates steady at the current range of 5% to 5.25%. Policymakers will meet on July 26. supported additional interest rate hikes amid signs of sticky core inflation. Fed Chairman Jerome Powell, speaking at a conference in Madrid last week, echoed the same sentiment.
"We expect the moderate pace of interest rate decisions to continue," he said following the pause in tightening instituted in May. Ahead of the report, Carlyle Group co-founder David Rubenstein said in an interview on "The Claman Countdown" this week that Powell has been telegraphing the plan so as not to surprise the markets.
"The Fed didn't want to panic the markets, I think the Fed gave itself enough flexibility, so it could have another 50-basis-point increase this year without surprising people, so I think the markets are assuming a 25-basis-points increase in July," he said, adding another 25 could come in the fall.
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