The probability of the Federal Reserve cutting interest rates by 25 basis points this week reaches 96.1%.

According to ChainCatcher, citing a report from Golden Ten Data, the CME "FedWatch" tool shows that there is a 96.1% probability that the Federal Reserve will cut interest rates by 25 basis points this week, and a 3.9% probability of a 50 basis point cut. In addition, by October, there is a 20.1% probability of a cumulative 25 basis point rate cut, a 76.8% probability of a cumulative 50 basis point cut, and a 3.1% probability of a cumulative 75 basis point cut.