If you want to know what's coming at the top of the hour, read my FOMC preview.A hike would take the Fed funds rate to 5.00-5.25%.
Here's what the Fed funds futures market sees:
- 90% chance of of a 25 bps hike today
- 10% chance of no change
- Virtually no chance of a hike for the June 14 meeting priced in
- Year-end Fed funds futures 4.376%, which is nearly 75 bps below the expected peak