Chance We'll See a Fed Funds Rate Hike This Year?

You can see the probability of a Fed funds target rate hike at the future FOMC meeting using the CME Group FedWatch tool. Click on the date of the future FOMC meeting, and the tool will show you a bar chart of the probabilities. According to the website, the "probabilities of possible Fed Funds Target Rates are calculated based on the post-meeting Fed Fund Futures contract price."

It shows no chance of a rate hike for next week's April 28th meeting, and a 14% chance of a rate hike for the June 23rd meeting.

Thanks to the reader who emailed me the link to this tool.