According to the CME "Fed Watch", the probability of a 25 basis point cut by November is 60.9%, and the probability of a 50 basis point cut is 39.1%. The probability of a cumulative 50 basis point cut by December is 29.0%, the probability of a cumulative 75 basis point cut is 50.5%; the probability of a cumulative 100 basis point cut is 20.5%.