According to CME's "Fed Watch," the probability of a 25 basis point rate cut by the Federal Reserve in September is 93.9%, and the probability of a 50 basis point cut is 6.1%. The probability of a cumulative 25 basis point rate cut by the Federal Reserve in October is 7.6%, the probability of a cumulative 50 basis point cut is 86.8%, and the probability of a cumulative 75 basis point cut is 5.6%.