Fed unlikely to cut rates in September -CIO

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STORY: According to the CME's FedWatch Tool, traders now see a 100% chance of a rate cut by the Fed in September with 55% expecting a 50 basis-point reduction.

This after a report on Tuesday revealed U.S. producer prices increased less than expected in July as a rise in the cost of goods was tempered by cheaper services, indicating that inflation continued to moderate.

But Coons thinks it's more likely that the Fed will wait until the "very end of the year, maybe past elections, before they start to cut interest rates, simply because they do not want to get it wrong."