CME Group FedWatch: December rate hike odds remain below 50%

CME Group FedWatch Tool, which calculates unconditional probabilities of Federal Open Market Committee (FOMC) meeting outcomes to generate a binary probability tree, shows that after the two-day long congressional testimony of the Fed Chairwoman Janet Yellen, the chances of a rate hike in December remained essentially unchanged.

According to the CME Group FedWatch Tool, the markets price a 47.3% probability of a December rate hike, which was at 47.5% in the previous week. Moreover, markets still don’t think that the Fed will go for another rate hike in September, as the probability remains steady around 13.3%. 

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