Fed Drops Odds of Keeping Rates Unchanged to 62 Percent

The Federal Reserve Board concluded its two-day meeting on July's interest rates announcement. Last week, the CME FedWatch tool showed an 80 percent chance of keeping rates unchanged. However, this week's update shows a drop to 62 percent and a 38 percent chance of raising rates by at least a quarter point.

The Federal Reserve Board typically does not meet in August, so any rate change will be reassessed on September 16th.