-
Traders pile into bets on Fed interest-rate cuts this year
The Federal Reserve is just about done being patient. That was the view of traders in short-term interest rate futures Friday, after a government report showed U.S. employers sharply slowed hiring in May. Traders jumped on the report as a sign of a cooling labor market that would force the Fed to start cutting its policy rate in July and reduce it twice more by the end of the year. Bets for two rate cuts had been priced into the market, mostly in reaction to mounting trade tensions that are expected to slow economic growth. The U.S. central bank, which raised interest rates four times last year, signaled earlier this ... (full story)