94.8% probability of a 25BP Fed rate cut in November

According to CME ‘Fed Watch’, the probability that the Fed will cut 25 basis points by November is 94.8%, and the probability of keeping the current rate unchanged is 5.2%. The probability of keeping current rates unchanged by December is 1.3%, the probability of a cumulative 25 basis point cut is 27.1%, and the probability of a cumulative 50 basis point cut is 71.6%.