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By Gertrude Chavez DreyfusNEW YORK (Reuters) - Futures contracts for the federal funds rate, which measures the cost of unsecured overnight loans between banks, priced in a 60 percent chance that the U.S. Federal Reserve will cut interest…

Expectations of a major interest rate cut in September had lost steam after recent economic data showed that recession fears were just hype about nothing, but with the labor market now in the driver's seat of monetary policy, the August…