Market pricing is 0% probability that the Federal Reserve will cut interest rates before March 2027

March 27, the latest pricing of CME Fed Observation Tool and Interest Rate Futures showed that the market has completely ruled out the possibility of the Federal Reserve cutting interest rates before March 2027, and the earliest time for interest rate cuts has been postponed to April 2027. This extreme pricing stems from the strong eagle signal released by the Federal Reserve's March 19 interest-rate meeting and concerns about rising inflation caused by the geopolitical conflict in the Middle East.