Today’s Lead Story
Monday, July 20Economy
Fed's July 29 Rate Decision Looms With Hike Odds Climbing Near 50%
via CNBC
Market-implied odds of a Federal Reserve rate increase at its July 29 meeting climbed to roughly 46.5% per CME Group's FedWatch tool, a sharp rise from near zero just weeks earlier. The fed funds rate currently stands at 3.50%–3.75%, and a quarter-point hike would push costs higher on credit cards, home equity lines, and adjustable-rate mortgages.
Why it matters
With a near coin-flip chance of higher rates in nine days, anyone carrying variable-rate debt — credit cards, HELOCs, or ARM mortgages — may benefit from accelerating payoff or locking into a fixed rate before the meeting.
