LIVE Dow Set to Open Up Ahead of Powell's Fed Speech Last Updated: Traders are pricing in a 73% chance that borrowing costs fall half a point by the end of 2025, according to the CME FedWatch tool. That likely implies further quarter-point cuts at the Fed's next two meetings, in October and December. The central bank lowered rates by a quarter of a point last week, although Powell described it as a "risk- management cut," which implies that policymakers will only carry on easing monetary policy if the labor ...