Merchants maintain bets on Fed price cuts this 12 months, beginning in June

(Reuters) -Merchants on Wednesday stored bets on Federal Reserve price cuts this 12 months after Fed Chair Jerome Powell stated the U.S. central financial institution is well-positioned to attend for better readability earlier than making any modifications to the stance of coverage.

Merchants of short-term interest-rate futures are betting the Fed resumes price cuts in June and that by 12 months finish the coverage price, at the moment within the 4.25%-4.50% vary, shall be a full share level decrease.

(Reporting by Ann Saphir; Modifying by Chris Reese)