96% probability that the Fed will leave rates unchanged in May

According to the CME "Fed Watch", the probability that the Fed will keep interest rates unchanged in May is 96%, and the probability of a 25 basis point cut is 4%. The probability that the Fed will leave interest rates unchanged in June is 83.1%, and the probability of a cumulative rate cut is 83.1% The probability of a 25 basis point cut is 16.3%.