Wall Street traders dialed up bets on rate cuts Friday and tamped down their expectations of future volatility. Futures pricing Friday suggested traders saw a roughly 83% chance that the Fed will cut rates at its next meeting,

Federal Reserve Chair Jerome Powell on Friday opened the door ever so slightly to lowering a key interest rate in the coming months but gave no hint on the timing of a move and suggested the central bank will proceed cautiously as it continues to evaluate the impact of tariffs and other policies on the economy.