Traders boost bets on Fed rate cuts 

(Reuters) -Short-term U.S. interest-rate futures rose on Wednesday after a report that President Donald Trump is likely to fire Federal Reserve Jerome Powell soon, with traders now betting on rate cuts starting in September and at least one more by December.

Trump has railed against Powell for not cutting rates. A recent Supreme Court ruling suggests no change to the long-held understanding that the law prohibits a president from firing a Fed chair over a policy difference.

(Reporting by Ann Saphir)

You May Also Be Interested In

• Wipro's AI push frees capacity equivalent to 20,000 workers, CTO says
• India to push BRICS digital currency link despite hurdles, sources say
• American Eagle shares slide as flat margin outlook, weak core brand weigh