According to the CME "Fed Watch", the probability of a 25 basis point cut by November is 45.2%, and the probability of a 50 basis point cut is 54.8%. The probability of a cumulative 50 basis point cut by December is 23.4%, the probability of a cumulative 75 basis point cut is 50.2%; the probability of a cumulative 100 basis point cut is 26.5%.