Traders keep bets on Fed rate hike later this month

Chances of a rate hike at the Fed's Dec. 13-14 meeting were pegged at 95 percent after the report, based on CME's FedWatch page. Before the release, which also showed a solid 178,000 jobs gained last month, traders saw about a 93 percent chance of a December rate hike, and were betting on at least one more rate hike in 2017. Fed officials largely believe that a 4.6 percent unemployment rate is lower than the U.S. economy can sustain for any length of time without creating upward and potentially