(Reuters) – Traders on Wednesday boosted bets that the Federal Reserve will start cutting rates in September after a government report showed inflation receding in June. Interest-rate futures prices reflected about an 85% chance of a rate cut at the Fed’s September meeting, compared with about a 70% chance seen before the report, which showed consumer prices unexpectedly fell last month from May. Traders also firmed bets on a second rate cut in December.
(Reporting by Ann Saphir; Editing by Toby Chopra)
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