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According to CME's "Fed Watch": The probability of the Fed keeping rates unchanged by June is 98.5%, with a 1.5% probability of a cumulative 25 basis point rate cut. The probability of the Fed keeping rates unchanged by July is 91.3%, with a 7.4% probability of a cumulative 25 basis point rate hike and a 1.4% probability of a cumulative 25 basis point rate cut.
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