95.5% probability that the Fed will cut rates by 25BP in November

According to CME ‘Fed Watch’, the probability that the Fed will cut 25 basis points by November is 95.5%, and the probability of keeping the current rate unchanged is 4.5%. The probability of keeping current rates unchanged by December is 1.2%, the probability of a cumulative 25 basis point cut is 28.3%, and the probability of a cumulative 50 basis point cut is 70.5%.