The probability of the Fed maintaining the status quo in July has decreased to 83.5%

Federal Reserve Governor Powell was clearly dovish last night, according to CME's "FedWatch": the probability of the Fed maintaining interest rates in July has dropped to 83.5%, while the probability of a 25 basis point rate cut is 16.5%. The probability of the Fed maintaining interest rates in September is 29%, with a cumulative 25 basis point rate cut probability of 60.2% and a cumulative 50 basis point rate cut probability of 10.8%.