Fed meeting today: Wall Street on edge over historic interest-rate decision
Let’s get the basics out of the way: the Fed will announce its latest interest-rate decision at 2 p.m. Eastern, alongside the latest summary of economic projections (i.e., the dot plot).
As of Wednesday morning, the market was pricing in a 63% chance of a half-point rate cut, and a 37% chance of a quarter-point reduction. By the end of the year, the market is pricing in a Fed funds rate between 4% and 4.25%, from 5.25% to 5.5% currently.