Traders see the odds of the Fed hiking rates this month as more or less a coin toss.
They are pricing a roughly 50% chance of a quarter-point increase, according to CME data. Only yesterday, investors were pricing a 70% likelihood of a hike.
That's after prominent Fed board members spoke out to dispel the notion that a rate rise was a foregone conclusion: Christopher Waller just now said he would support holding rates steady if August data shows inflation continues to make progress, a day after John Williams said the case for a hike wasn't firm.
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