September Fed hike odds jump to 69.8% after firmer PPI
Markets now assign a 69.8% chance of a 25-basis-point September 16 FOMC rate hike after the latest producer price index came in firmer than expected. The probability rose from 61.2% on Wednesday and is just shy of 70%.
Markets are now pricing a 69.8% chance that the Federal Reserve will raise rates by 25 basis points at the September 16 FOMC meeting, up from 61.2% on Wednesday and just under 70%. The move followed a firmer-than-expected producer price index reading for the period covered in the source text.