The probability of the Fed cutting rates in September is 85.9%.

According to CME "FedWatch": The probability of the Fed keeping rates unchanged in September is 14.1%, while the probability of a 25 basis point rate cut is 85.9%. The probability of the Fed keeping rates unchanged in October is 5.2%, with a cumulative 25 basis point rate cut probability of 39.9% and a cumulative 50 basis point rate cut probability of 55.1%.