According to the CME "Fed Watch", the probability of the Fed cutting interest rates by 25 basis points in September is 55.0% (57.0% before the announcement), and the probability of cutting interest rates by 50 basis points is 45.0% (43.0% before the announcement). The probability of the Fed cutting interest rates by a cumulative 50 basis points by November is 28.9%, the probability of a cumulative 75 basis point cut is 49.7%, and the probability of a cumulative 100 basis point cut is 21.3%.