According to Jin10, Simon Ballard, chief economist at First Abu Dhabi Bank, said in a report that the Federal Reserve unanimously backed a 25-basis-point rate hike last week and that it may be appropriate to pause hikes next month. He said the unanimous decision to raise rates this month sent a clear signal that more tightening is coming, but he believes a pause at the next meeting in October would imply that, although the Fed is committed to bringing inflation back to target, it does not intend to begin a pre-set tightening cycle. LSEG data showed money-market pricing implied a 71% probability of a 25-basis-point hike in October.