Fed Holds Rates Steady in July With 68.5% Probability, CME Data Shows

According to CME Fed Watch, as of July 2, the Federal Reserve has a 68.5% probability of holding rates steady in July and a 31.5% probability of raising by 25 basis points.

For September, the odds show 35.7% probability of no change, 49.2% for a 25 bp increase, and 15.1% for a 50 bp increase. By October, probabilities stand at 27.8% for holding steady, 46.2% for 25 bp, 22.6% for 50 bp, and 3.3% for 75 bp.