The probability of the Federal Reserve cutting interest rates by 25 basis points in September is 71%

According to CME "Fed Watch": The probability of the Federal Reserve cutting interest rates by 25 basis points in September is 71.0%, and the probability of a 50 basis point cut is 29.0%. The likelihood of the Fed making a cumulative rate cut of 50 basis points by November is 28.7%, while there's a 54.0% chance for a cumulative cut of 75 basis points, and a 17.3% chance for a total reduction of 100 basis points.