The probability that the Fed will cut rates by 25 BP in November is 98 percent

According to the CME “Fed Watch”: the probability that the Fed will cut 25 basis points by November is 98%, the probability of maintaining the current rate unchanged is 2%. The probability of maintaining the current rate unchanged by December is 0.3%, the probability of a cumulative 25 basis point cut is 17.9%, the probability of a cumulative 50 basis point cut is 81.7%.