The CME FedWatch tool predicted over a 97% chance that interest rates would remain unchanged.

The market is currently pricing in the next Federal Reserve rate cut for October 2027.

The FOMC meeting happened on March 18th, and the Fed kept the rates flat, maintaining the interest rate at the range of 3.5% to 3.75%.

The Federal Reserve decided not to lower interest rates.

Before the CPI report, there was a 99.4% chance the Federal Reserve would not cut rates in March, according to the CME Fed Watch tool.