Investing.com - The market's focus returned to the Federal Reserve this week, given rising expectations that they could hike rates much earlier than expected.
Traders are now pricing in a 38% chance for a rate hike in June and 60% in July, according to CME Group's (NASDAQ:CME) FedWatch tool, as hawkish comments from Fed officials as well as minutes of the Fed's April meeting have convinced many analysts and investors that a summer rate hike is a real possibility.
Market players are awaiting comments by Fed Chair Janet Yellen at a Harvard University event on Friday. She could use her speech to reinforce expectations that the central bank might raise interest rates as early as next month.
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