Market pricing indicates that the likelihood of the Federal Reserve raising interest rates this year is greater than cutting rates.

Golden Finance reports that on April 30th, according to The Wall Street Journal, after Federal Reserve officials sent some hawkish signals, Wall Street traders are betting that the Federal Reserve may raise interest rates this year, although the likelihood is still small. CME’s interest rate futures data shows that traders believe there is an 11% chance of a rate hike this year, up from 5% earlier that day and 0% on Tuesday, while the chance of a rate cut hovers around 2%.

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