There is a reasonable probability the Fed will conclude its rate hikes this month

The CME's FedWatch tool is predicting that there is a 99.8% probability that the Federal Reserve will implement a ¼% rate hike on July 26 when the next FOMC meeting concludes. It is also likely that this month's rate hike will conclude the series of hikes by the Federal Reserve that began in March 2022. The latest CPI and PPI reports indicate that inflationary pressures are diminishing and getting closer to the Federal Reserve's target of 2%.

If the Fed is as they have long proclaimed"data dependent" then these recent reports demonstrate that the U.S. economy has contracted substantially bringing down the level of inflation. An article penned by Avraham Shama an Opinion Contributor for THE HILL titled,"The Fed is raising interest rates again: it's a mistake that could spark a recession", warns that if the Fed wants the best serve the US economy it must stop raising rates to avoid a recession.

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