This should have been the week the Federal Reserve finally begins to cut interest rates after rapidly raising them to a 23-year high, at least according to Wall Street’s hopes from just two months ago. But disappointing inflation readings gave investors a rude awakening, and if economic data continue to show more of the same, then the Fed could very well delay the first rate cut into the fall — even if there’s a US presidential election right around the corner. For now, traders are betting that the first rate cut will likely come in June, according to futures; to a lesser degree, some traders are betting on July. Fed ... (full story)