(Bloomberg) -- While fed funds futures are pricing in only about a 16 percent chance the Federal Reserve will raise interest rates at the conclusion of Wednesday's policy meeting, they're assigning about 70 percent odds that officials will hike by year-end, near the highest since June. The Federal Open Market Committee has just one more gathering this year after today, on Dec. 13-14. The probabilities are based on the assumption the effective fed funds rate will trade at the middle of the new range after the U.S. central bank's next increase.
To contact the reporter on this story: Yun Li in New York at yli934@bloomberg.net.
To contact the editors responsible for this story: Boris Korby at bkorby1@bloomberg.net, Nancy Moran
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