We're a little over the halfway point between the Federal Open market Committee's scheduled meetings, where the Federal Reserve's interest rate-setting body will announce a quarter point rate cut in the Federal Funds Rate at the conclusion of its next two-day meeting on 31 July 2019, its first reduction since December 2008 when it dropped to near-zero.
According to the probabilities indicated by the CME Group's FedWatch Tool, that reduction will be the first of three rate cuts in 2019, which, if all are implemented as currently expected, will lower the target range