According to Wu Blockchain: The Federal Reserve is set to make an announcement this week regarding its first interest rate decision for the year 2024. Market data from the Chicago Mercantile Exchange (CME) currently indicates a striking 96.9% probability that the Fed will choose to keep interest rates steady.
However, expectations for the subsequent interest rate decision in March are showing greater volatility, with probabilities pointing towards change. A considerable 47% probability has been assigned to the possibility of a 25 basis points (bps) interest rate cut for that decision.