According to CME’s “Federal Reserve”: Federal Reserve, the probability of a 25-basis-point rate cut in January is 18.3%, while the probability of rates remaining unchanged is 81.7%.By March, the probability of a cumulative 25-basis-point rate cut stands at 40.7%, the probability of rates remaining unchanged is 52.8%, and the probability of a cumulative 50-basis-point rate cut is 6.5%.