According to the CME "Fed Watch", the probability of the Fed cutting interest rates by 25 basis points in September is 66%, and the probability of cutting interest rates by 50 basis points is 34%. The probability of the Fed cutting interest rates by a cumulative 50 basis points by November is 41%, the probability of a cumulative 75 basis point cut is 46%, and the probability of a cumulative 100 basis point cut is 13%.