Expectations for a Fed rate hike this month plummet
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View chart & analysis → - 1The probability of a rate hike this month in the futures market fell from 71% as of September 28 to 20% expected by futures traders today.
- 2Actual new jobs in September were recorded at 29,000, which is fewer than the expected 84,000 new jobs for the month.
- 3New York Fed President John Williams said in a speech on September 29 that there is no need for urgency regarding the next rate hike.
So what's the key point?
The probability of a rate hike this month dropped from 71% to 20%. This is because new jobs were lower than expected and there were comments that there is no need to rush a rate hike.
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