According to CME’s “Federal Reserve”: Federal Reserve, the probability of a 25-basis-point rate cut in January is 17.2%, while the probability of rates remaining unchanged is 82.8%.By March, the probability of a cumulative 25-basis-point rate cut stands at 44.1%, while the probability of rates remaining unchanged is 48.9%; the probability of a cumulative 50-basis-point rate cut is 7.0%.