According to the CME "Fed Watch", the probability of the Fed cutting by 25 basis points in November is 96.2%, and the probability of keeping current interest rates unchanged is 3.8% (99% and 1%, respectively, before the data release). The probability of keeping current interest rates unchanged in December is 1.1%, the probability of a cumulative 25 basis point cut is 29.4%, and the probability of a cumulative 50 basis point cut is 69.6% (0.5%, 22.9%, and 76.6%, respectively, before the data release).