July 31, 2019 / 7:36 PM / 3 months ago

MONEY MARKETS-Traders trim U.S. rate cut bets, Fed's Powell seen curbing stimulus outlook

NEW YORK, July 31 (Reuters) - U.S. short-term interest rates futures fell on Wednesday as traders scaled back expectations on the number of future rate decreases in the wake of comments from Federal Reserve Chairman Jerome Powell.

At 3:15 p.m. EDT (1915 GMT), federal funds futures implied traders see about a 76% chance the U.S. central bank would lower key lending rates again at its Sept. 17-18 policy meeting, CME Group’s FedWatch program showed.

That view on Fed’s next possible cut, while still strong, was below an implied 83% probability shortly after the Fed announced its first rate decrease since 2008 earlier Wednesday. (Reporting by Richard Leong Editing by Tom Brown)

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