According to CME’s “Federal Reserve”: Federal Reserve, the probability of a 25-basis-point rate cut in January is 14.9%, while the probability of rates remaining unchanged is 85.1%.By March, the probability of a cumulative 25-basis-point rate cut stands at 51.2%, the probability of rates remaining unchanged is 42.8%, and the probability of a cumulative 50-basis-point rate cut is 5.9%.