According to the CME "Fed Watch", the probability of a 25 basis point cut by November is 62.2%, and the probability of a 50 basis point cut is 37.8%. The probability of a cumulative 50 basis point cut by December is 36.6%, the probability of a cumulative 75 basis point cut is 47.8%; the probability of a cumulative 100 basis point cut is 15.6%.