According to CME's "Fed Watch": The probability that the Federal Reserve will keep interest rates unchanged in July is 74.7%, while the probability of a 25 basis point rate cut is 25.3%. The probability that the Federal Reserve will keep interest rates unchanged in September is 7.6%, the cumulative probability of a 25 basis point rate cut is 69.7%, and the cumulative probability of a 50 basis point rate cut is 22.8%.