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Market expectations for Federal Reserve interest rates are holding steady ahead of the publication of minutes from the last meeting.
Traders see an 85% chance of a quarter-point cut at the Sept. 17 decision, virtually unchanged from yesterday but down from 94% a week ago, according to the CME FedWatch tool. Fed Chair Jerome Powell will give a speech on Friday in Jackson Hole, Wyoming that may influence expectations.
Expectations for lower rates have probably already been priced into stocks, so any change in how much borrowing costs may fall could create a move. The more controversial question than what happens in September is where rates end up at the end of the year.
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