Traders see stronger chance of more Fed rate cuts this year

April 2 (Reuters) - Traders on Wednesday added to bets the Federal Reserve will cut interest rates at least three times this year, with a fourth rate cut by year's end an increasingly less far-fetched outcome, after U.S. President Donald Trump announced broad-based tariffs that were higher than many analysts had expected.

U.S. short-term interest rate futures late on Wednesday reflected expectations the Fed will deliver a first quarter-point reduction to the policy rate in June, followed by similar moves in July and October, and put about a 45% probability that Fed will have delivered an additional cut by its December meeting.