[CME Data Shows 97.3% Probability of Fed Rate Cut in October] According to data from the CME 'FedWatch' tool, there is a 97.3% probability that the Federal Reserve will cut rates by 25 basis points at its October meeting, while the probability of maintaining rates remains at just 2.7%. Looking ahead to the December meeting, the probability of keeping rates unchanged drops to 0.1%, the cumulative probability of a 25-basis-point rate cut is 6.4%, and the cumulative probability of a 50-basis-point rate cut rises significantly to 93.5%.