According to CME "Fed Watch", the probability that the Fed will maintain current interest rates unchanged in December is 41.3%, and the probability of a cumulative 25 basis point cut is 58.7%. The probability of maintaining current interest rates unchanged in January next year is 29%. The probability of a cumulative 25 basis point cut is 53.6%. The probability of a cumulative 50 basis point cut is 17.6%. Powell made hawkish remarks early this morning about "no rush to cut rates".