According to CME's "Fed Watch": The probability of the Fed cutting interest rates by 25 basis points in September is 93.9%, and the probability of cutting interest rates by 50 basis points is 6.1%. The probability of the Fed cumulatively cutting interest rates by 25 basis points in October is 7.6%, the probability of cumulatively cutting interest rates by 50 basis points is 86.8%, and the probability of cumulatively cutting interest rates by 75 basis points is 5.6%.