According to the CME "Fed Watch", the probability of the Fed cutting interest rates by 25 basis points in September is 69%, and the probability of cutting interest rates by 50 basis points is 31%. The probability of the Fed cutting interest rates by a cumulative 50 basis points in November is 50%, the probability of a cumulative 75 basis point cut is 41.5%, and the probability of a cumulative 100 basis point cut is 8.5%.