the probability of a 25 basis point rate cut by the Fed in September is 43.5%, and the probability of a 50 basis point rate cut is 56.55%. The probability that the Fed will cut interest rates by 50 basis points by November is 28.2%, the probability of a cumulative rate cut of 75 basis points is 51.9%, and the probability of a cumulative rate cut of 100 basis points is 19.9%.