CME FedWatch: Markets See 99% Odds the Fed Holds Rates Steady in April

CME's FedWatch tool shows traders overwhelmingly expect the Federal Reserve to leave interest rates unchanged at its April meeting. The implied probability of a 25-basis-point hike is 1%, versus 99% for no change. Looking to June, FedWatch estimates a 2.6% chance of a cumulative 25-basis-point cut, a 96.4% chance rates remain unchanged, and a 1% chance of a cumulative 25-basis-point increase.