Insights

Markets anticipate rate hike ‘skip’ at FOMC meeting

exchange68September 13, 2024

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Quick Take

The U.S. Consumer Price Index (CPI) report is due at 08:30 ET today and will influence the outcome of the FOMC meeting tomorrow.
April’s year-over-year CPI came in at 4.9%. May’s is forecasted to come in at 4.0%.
May’s year-over-year core CPI is forecasted to come in at 5.3%. This metric refers to CPI less volatile components, including food and fuel.
Currently, markets are 79% in favor of a rate hike “skip” following tomorrow’s FOMC meeting.
The current U.S. Fed Funds Rate is 5.00-5.25.

Analyst

James Van Straten

Former Lead Analyst at CryptoSlate

James fervently appreciates data, technology, and trend-spotting. As a tech and liberty maximalist, he hails Bitcoin as the 21st century’s paramount invention.

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