Just checked the CME FedWatch tool and the fed rate cut odds for March are basically non-existent at 2.7% - looks like the market is pricing in the Fed staying put at 97.3%. Not surprising given the inflation picture. Now things get interesting looking forward. For April, there's a 12.5% shot at a cumulative 25 basis point cut, though 87.3% still expects no change. The 50 basis point scenario is pretty much off the table at 0.3%. By June though, the fed rate cut probability starts to pick up more meaningfully - sitting at 30.7% for a 25 bp move. So basically the market's not expecting any action soon, but there's growing conviction something might happen by mid-year. Curious to see how this shifts as we get more inflation data.