According to the CME "Fed Watch", the probability that the Fed will keep interest rates unchanged in August is 92.2%, and the probability of a 25 basis point cut is 7.8%. The probability that the Fed will keep interest rates unchanged in September is 0.0%, the probability of a cumulative 25 basis point cut is 90.4%, the probability of a cumulative 50 basis point cut is 9.4%, and the probability of a cumulative 75 basis point cut is 0.2%.