Before the non-farm payrolls announcement, the probability that the Fed would keep interest rates unchanged in May was 91.7%

According to CME's "Fed Watch": the probability that the Federal Reserve will keep interest rates unchanged in May is 91.7%, and the probability of cutting interest rates by 25 basis points cumulatively is 8.3%. The probability of the Fed keeping interest rates unchanged until June is 35.0%, the probability of a cumulative 25 basis point interest rate cut is 59.8%, and the probability of a cumulative 50 basis point interest rate cut is 5.2%.