After Powell's speech, traders believe the likelihood of a rate hike this year is higher than a rate cut.

BlockBeats News, April 30 — After Powell’s speech, Wall Street traders believe the likelihood of the Federal Reserve raising interest rates this year is slightly higher than cutting rates, following hawkish signals from policymakers.

Interest rate futures show an 11% chance of a rate hike, up from 5% earlier on Wednesday, and zero on Tuesday, while the chance of a rate cut is about 2%.

Although the Federal Reserve kept the language suggesting that a rate cut is more likely, three Federal Reserve chairs opposed this decision, with Chair Powell stating that as inflation persists, this wording may soon be abandoned.

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