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US rate futures see slightly higher chance of Sept hike after Powell's comments
U.S. interest rate futures on Wednesday saw an increased probability of another interest rate increase by the Federal Reserve this year in September after Chair Jerome Powell said the Fed has not ruled out raising rates in consecutive meetings. The Fed raised rates by 25 basis points (bps) on Wednesday, as was widely expected, citing still-elevated inflation. The rate hike, the Fed's 11th in its last 12 meetings, set the benchmark overnight interest rate in the 5.25% to 5.50% range, "It is certainly possible we would raise the funds rate at the September meeting if the data warranted, and I would also says it's ... (full story)