According to CME Fed Watch, there is a 78% probability that the Fed will cut interest rates by 25 basis points in September and a 22% probability of a 50 basis point rate cut. The probability that the Fed will cut interest rates by 50 basis points by November is 29.1%, the probability of a cumulative rate cut of 75 basis points is 57.1%, and the probability of a cumulative rate cut of 100 basis points is 13.8%.