According to the CME "Fed Watch", the probability that the Fed will keep interest rates unchanged in August is 95.3% (91.2% before the announcement), and the probability of a 25 basis point cut is 4.7%. The probability that the Fed will keep rates unchanged in September fell to 24.8% (27.4% before the announcement), the probability of a cumulative 25 basis point cut is 71.8%, and the probability of a cumulative 50 basis point cut is 3.4%.