Trader bet on June start to rate cuts in latest shift in view

Traders of futures tied to the Federal Reserve policy rate now favor a June start to U.S. central bank interest-rate cuts, a shift from May earlier in the day, followed by three more rate cuts through the end of the year.

Minneapolis Fed President Neel Kashkari said the hurdle is high to a Fed policy response "up or down" to the effects of sweeping tariffs.