Traders currently believe that the probability that the Federal Reserve will raise interest rates by 25 basis points this month is over 66%. Expectations of interest rate hikes heated up sharply after Kevin Walsh made hawkish remarks at the Jackson Hole conference on Friday. Just a week ago, market pricing indicated that the probability of a September rate hike was less than 40%.

Traders currently believe that the probability that the Federal Reserve will raise interest rates by 25 basis points this month is over 66%. Expectations of interest rate hikes heated up sharply after Kevin Walsh made hawkish remarks at the Jackson Hole conference on Friday. Just a week ago, market pricing indicated that the probability of a September rate hike was less than 40%.