The US CPI in August was steady, will the script of the three consecutive interest rate cuts by the Federal Reserve in 2024 be repeated?

According to the Wise Finance APP, the latest US CPI inflation report for August shows that excluding the highly volatile categories of food and energy, US core inflation in August slightly increased as widely expected in the market. However, traders are still collectively betting that the Federal Reserve will announce its first rate cut of the year next week, with the vast majority of camps betting that the Fed will cut rates by 25 basis points at that time. But after the release of exceptionally weak initial jobless claims data, there are still some traders betting that the Fed is seriously "behind the curve," and they are betting heavily that the Fed will cut rates by 50 basis points in September to start a rate-cutting cycle. After the release of CPI data that was largely in line with expectations, market pricing shows that the probability of a 50 basis point rate cut by the Fed in September has increased from less than 5% to around 10%.