According to the CME "Fed Watch", the probability that the Fed will keep interest rates unchanged in June is 91.4%, and the probability of a 25 basis point cut is 8.6%. The probability that the Fed will keep interest rates unchanged in July is 66.9%, the probability of a cumulative 25 basis point cut is 30.8%, and the probability of a cumulative 50 basis point cut is 2.3%.