After the release of the US CPI, the probability of the Federal Reserve remaining inactive in May is 79.1% According to the "Federal Reserve Watch" of CME, which is supported by Golden Ten, the probability of the Federal Reserve keeping interest rates unchanged in May has dropped to 79.1%, and the probability of cutting interest rates by 25 basis points has risen to 20.9%. The probability of the Federal Reserve keeping interest rates unchanged until June is 16.5%, the probability of a cumulative 25 basis point rate cut is 67%, and the probability of a cumulative 50 basis point rate cut is 16.5%. Before the release of CPI, the probability of the Federal Reserve keeping interest rates unchanged in May was 83.5%, and the probability of cutting interest rates by 25 basis points was 16.5%. The probability of the Federal Reserve keeping interest rates unchanged until June is 27.1%, the probability of a cumulative 25 basis point rate cut is 61.7%, and the probability of a cumulative 50 basis point rate cut is 11.1%.