Market participants expect little change in the target range of the federal funds rate this year.

ChainCatcher News, according to Golden Ten Data, the minutes of the Federal Reserve meeting show that market participants expect little change in the target range of the federal funds rate this year. Option prices imply about a 30% chance of a rate hike in the first quarter of 2027. Surveys indicate there will be two 25-basis-point rate cuts in the coming year, with the timing expected to be later than previously surveyed, specifically in the third or fourth quarter of 2026 and the first quarter of 2027.