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Traders push chances for Fed rate hike out to April

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Inside the mind of the Fed

At this rate, 2016 as well as 2015 may be out of the picture for an interest rate hike.

Faced with deteriorating economic data and a growing chasm among Federal Reserve officials, traders now aren't pricing in the first rate hike until April 2016, according to Chicago Mercantile Exchange data.

Until the latest round of disappointing economic news Wednesday, traders had been holding out hopes for a March move.

However, signs of a slowdown are increasing.

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