According to the CME "Fed Watch", the probability of a 25 basis point cut by November is 43.9%, and the probability of a 50 basis point cut is 56.1%. The probability of a cumulative 50 basis point cut by December is 15.6%, the probability of a cumulative 75 basis point cut is 48.3%; the probability of a cumulative 100 basis point cut is 36.1%.