Only 7% of traders are anticipating an interest rate hike at the Federal Reserve’s September meeting in the wake of inflation data this week that met economist expectations and an August jobs report that reflects a growing equilibrium of supply and demand in the labor market

The Personal Consumption Expenditures index, the Fed’s preferred inflation gauge, increased 3.3% year-on-year in July and matched economist projections Thursday. The August jobs report released Friday shows nonfarm payroll growth of 187,000 jobs, topping projections of 170,000. At the same time, unemployment ticked higher from 3.5% to 3.8% in August and job openings fell to 8.8 million. 

Ninety-three percent of investors are expecting the Fed to hold steady on interest rates in September and 59.1% expect rates to stay the same in November as of midday Friday, according to CME …

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