CME predicts a 97.5% probability of the Federal Reserve cutting interest rates by 25 basis points in November

According to ChainCatcher news, the CME "Fed Watch" indicates that the probability of the Federal Reserve lowering rates by 25 basis points by November is 97.5%, while the probability of maintaining the current rate is 2.5%. The probability of keeping the current rate unchanged by December is 0.5%, the probability of a cumulative rate cut of 25 basis points is 21.6%, and the probability of a cumulative rate cut of 50 basis points is 77.9%.