Traders keep bets on Fed rate cuts this year, starting in June

(Reuters) -Traders on Wednesday kept bets on Federal Reserve rate cuts this year after Fed Chair Jerome Powell said the U.S. central bank is well-positioned to wait for greater clarity before making any changes to the stance of policy.

Traders of short-term interest-rate futures are betting the Fed resumes rate cuts in June and that by year end the policy rate, currently in the 4.25%-4.50% range, will be a full percentage point lower.

(Reporting by Ann Saphir; Editing by Chris Reese)