Market NOT expecting Fed to cut interest rates in September

Interesting. There was a complete shift in sentiment on markets over the Federal Reserve cutting interest rates.

It turns out that most fed fund traders anticipate that the United States central bank will leave rates in the target range of 2.00% to 2.25%.

According to the CME Group FedWatch tool, there is a 60% chance that the Fed leaves rates alone. Just last week, it was a consensus that a rate cut was coming.

Here is the chart:

Now investors are penciling in an October rate cut.