The probability of the Federal Reserve cutting interest rates by 25 basis points in September is 70%

According to CME "Fed Watch": The probability of the Federal Reserve cutting interest rates by 25 basis points in September is 70%, and the probability of a 50 basis point cut is 30%. The likelihood that the Fed will have reduced rates by a total of 50 basis points by November is 28.5%, while there's a 53.7% chance for a cumulative reduction of 75 basis points, and a 17.8% chance for an overall cut of 100 basis points.