Federal Reserve's September Rate Cut Likely, CME Data Shows

According to PANews, recent data from CME's 'FedWatch' tool indicates a 0% probability of the Federal Reserve maintaining its current interest rates in September. Instead, there is an 88.3% likelihood of a 25 basis point rate cut and an 11.7% chance of a 50 basis point reduction. Prior to the data release, the probability of a rate cut was 0%. Looking ahead to October, there is a 0.4% chance of rates remaining unchanged, a 36.2% probability of a cumulative 25 basis point cut, and a 63.4% likelihood of a cumulative 50 basis point reduction.