After Trump suspended tariffs, traders cut bets on the Federal Reserve's May rate cut

Traders on Wednesday slashed their bets that the Federal Reserve would start cutting interest rates in May, after President Donald Trump said he would pause for 90 days plans to sharply increase tariffs on most countries announced last week. Traders now see a much greater chance of U.S. interest rate cuts starting in June than in May, according to interest rate futures trading. They still believe the Fed will cut interest rates a total of four times by the end of the year.