The Fed is expected to resume raising rates at the July 26th FOMC meeting. Fed funds futures see a 96% chance that the central bank will deliver a quarter-point rate rise, bringin the target range to between 5.25% and 5.50%, almost a 22-year high. The Fed delivered 10 straight rate increases and then paused at the June FOMC meeting. The Fed is going to raise rates on Wednesday and seems poised to be noncommittal with what they will do in September. The economic data has been mixed (strong labor data/cooling pricing pressures) and that should support Powell’s case that they still could deliver a soft landing, a ... (full story)