The Zhitong Finance App learned that when Federal Reserve Chairman Kevin Walsh announced his second interest rate decision since taking office at 2 a.m. Beijing time on Thursday, the global capital market was watching with bated breath an unprecedented suspense. Just a month ago, the market was almost certain that July would stand still; at the moment, the CME FedWatch tool shows that the probability of a 25 basis point rate hike has soared to 30% from 13% a week ago. Citi said bluntly that this was “the moment of greatest disagreement since September 2024.”

The Zhitong Finance App learned that when Federal Reserve Chairman Kevin Walsh announced his second interest rate decision since taking office at 2 a.m. Beijing time on Thursday, the global capital market was watching with bated breath an unprecedented suspense. Just a month ago, the market was almost certain that July would stand still; at the moment, the CME FedWatch tool shows that the probability of a 25 basis point rate hike has soared to 30% from 13% a week ago. Citi said bluntly that this was “the moment of greatest disagreement since September 2024.”