Federal Reserve's October Rate Cut Likely, CME Reports

According to BlockBeats, the CME's FedWatch tool indicates a 98.3% probability of a 25 basis point rate cut by the Federal Reserve in October, ahead of the upcoming CPI data release. The likelihood of maintaining the current rate stands at 1.7%. Looking ahead to December, there is a 93.4% chance of a cumulative 50 basis point rate cut, while the probability of a 25 basis point cut is 6.5%. The chance of keeping rates unchanged is minimal at 0.1%. The next two Federal Open Market Committee (FOMC) meetings are scheduled for October 29 and December 10.