Before the CPI data release, the probability of the Fed keeping interest rates unchanged in July was 63.1%

According to Odaily, the CME FedWatch tool shows that the probability of the Fed keeping interest rates unchanged in July is 63.1%, while the probability of a cumulative 25-basis-point rate hike is 36.9%. For September, the probability of the Fed keeping interest rates unchanged is 28.3%, the probability of a cumulative 25-basis-point rate hike is 51.4%, and the probability of a cumulative 50-basis-point rate hike is 20.4%.