According to the CME "Fed Watch", the probability of the Fed cutting interest rates by 25 basis points in September is 39.0%, and the probability of cutting interest rates by 50 basis points is 61%. The probability of the Fed cutting interest rates by a total of 50 basis points by November is 23.4%, the probability of a total of 75 basis points is 52.2%, and the probability of a total of 100 basis points is 24.4%. By December, the probability of a cumulative interest rate cut of 75 basis points is 10.5%, the probability of a cumulative interest rate cut of 100 basis points is 36.4%; the probability of a cumulative interest rate cut of 125 basis points is 39.7%; the probability of a cumulative interest rate cut of 150 basis points is 13.4%.