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SAN FRANCISCO (MarketWatch) -- Futures traders Wednesday afternoon notched up their bets that the Federal Reserve will lower rates in the next several months after a statement by the central bank gave only a slight nod to the possibility it could pause at future meetings. The July fed funds contract rose to 98.06, indicating traders anticipate the fed funds target rate will slip to about 1.94% by the end of June. Before the meeting, that contract anticipated rates would remain at or above 2%. The December contract rose to 97.92, implying rates would range around 2.08%. Before the afternoon statement, the contract had priced in the possibility the Fed could raise rates, to about 2.2%, by year-end. The Fed Wednesday lowered its fed funds target rate to 2%.