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Take this with a pinch of salt (Fed Fund rate predictions are like Roulette). I'd rather see the economic numbers month on month to determine the Fed Fund rate action.
14:47 US FED: Implied Fed Funds Rate from Futures Contracts Boston, September
27.
Fed funds futures prices are unchanged from Wednesday despite more weak
housing data. The November contract still holds 88% odds of a rate cut to 4.50%
and a further 25 bps cut is expected (with a 60% probability) by the end of the
year.
. 4.950
4.750
4.720
4.530
4.400
4.330
4.240
4.220
4.200
' 4.150 4.150 '
Target Sep07 Oct07 Nov07 Dec07 Jan08 Feb08 Mar08 Apr08 May08 Jun08
! Odds -80% 12% 88% 140% 168% 204% 212% 220% 240% 240% !