Strong economic numbers Thursday caused markets to reassess the possibility of a rate cut in coming months, reported CNBC’s senior economics reporter, Steve Liesman.
“For the first time since February, traders are putting a less-than-50% chance on a rate cut at any of the next five Fed meetings,” Liesman told “Closing Bell.” He explained that the Fed Funds Future contract, which had priced in rate cuts last month, is now pricing it out.