Yellen's Testimony Gives Traders Pause About Rate Hikes: Chart

Federal Reserve Chair Janet Yellen has poured cold water on rate-hike bets. After her testimony to lawmakers Wednesday, bond traders were more skeptical that the central bank will raise rates again in 2017, as policy makers signaled in their latest projections last month. The odds of a September hike, based on the implied rate of fed fund futures, fell to about 12 percent, while the probability of an increase by year-end dropped to around 50 percent.

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