According to the CME "Fed Watch", the probability of the Federal Reserve cutting interest rates by 25 basis points in September is 75%, and the probability of cutting interest rates by 50 basis points is 25%. The probability of the Federal Reserve cutting interest rates by a cumulative 50 basis points by November is 54.7%, the probability of a cumulative 75 basis point cut is 38.5%, and the probability of a cumulative 100 basis point cut is 6.8%.