Traders see fewer U.S. rate hikes after Fed forecast

Traders quickly pared expectations for a rate hike in June, but kept their view that the Fed was likely to raise rates just once this year, as early as July but more likely in September. The Fed kept rates unchanged, as had been expected, and said moderate U.S. economic growth and "strong job gains" would allow it to raise rates gradually this year, albeit more slowly than it had earlier thought. Traders now see about a 59 percent chance of a rate hike in September, based on futures contracts tr