Fed to Announce Rate Decision Tonight; July Cut Probability at Just 2.1%

July 30 – The Federal Reserve is set to unveil its interest rate decision tonight (2:00 a.m. Beijing time on July 31), with Fed Chair Jerome Powell scheduled to hold a post-meeting press conference 30 minutes later.

Per CME FedWatch data, the probability of a 25-basis-point rate cut in July stands at 2.1%, while the likelihood of keeping rates unchanged is 97.9%.