Markets bet Fed is done hiking rates — despite blockbuster jobs report

New York (CNN Business)Wall Street is betting that a looming slowdown in economic growth will prevent the Federal Reserve from raising interest rates this year. It’s more evidence of how investors and economists (especially ones at the Fed) seem to be speaking different languages. 44% chance of rate cut The odds of at least one rate hike by January 2020 stood at nearly 70% a month ago, according to the CME FedWatch Tool, which measures probabilities based on futures contracts. But fears of a severe slowdown — or even recession — caused investors to rethink things. The odds of a rate cut over the next year plummeted to zero on Thursday, a day when the Dow plunged 660 points. The …