According to CME's "Fed Watch," the probability of a 25 basis point rate cut by the Federal Reserve in September is 89.4%, and the probability of a 50 basis point cut is 10.6%. The probability of a cumulative 25 basis point rate cut by the Federal Reserve in October is 14.9%, the probability of a cumulative 50 basis point cut is 76.3%, and the probability of a cumulative 75 basis point cut is 8.9%.