Fed seen likely to raise policy rate above 5.5% by September

Traders of futures tied to the Federal Reserve's policy rate added to bets on Wednesday that the U.S. central bank will raise its benchmark rate to a range of 5.5%-5.75% by September, as a widely-followed report signaled some upward price pressures in manufacturing last month.

The rate-futures contracts currently are pricing in a high likelihood of interest-rate hikes at each of the Fed's next several meetings, and a receding chance of any rate cuts later this year.

The fed funds rate is currently 4.5%.4.75%

Source : [Fed seen likely to raise policy rate above 5.5% by September](www.investing.com/news/economy/fed-seen-likely-to-raise-policy-rate-above-55-by-september-3019160) by Reuters - Economy News by Reuters / March 01, 2023