CME data shows that the probability of the Federal Reserve cutting interest rates in March has dropped to 8%

According to CME Federal Reserve Watch: The probability of the Federal Reserve maintaining interest rates in the range of 5.25%-5.50% in March is 92%, and the probability of a rate cut by 25 basis points is 8%. By May, the likelihood of keeping interest rates unchanged is at 32.8%, while there's a cumulative chance of a rate cut by 25 basis points at 62.1%, and a cumulative chance for a reduction by 50 basis points stands at 5.1%.