The probability of the Federal Reserve cutting interest rates by 50 basis points in November is 54.1% after the release of PCE data

According to CME's "Fed Watch", the probability of the Fed cutting interest rates by 25 basis points by November is 45.9%, and the probability of cutting interest rates by 50 basis points is 54.1% (before the PCE data was released, the probability was 50.1% and 49.9%, respectively). By December, the probability of a cumulative 50 basis point cut is 24.0%, and the probability of a cumulative 75 basis point cut is 50.2%; the probability of a cumulative 100 basis point cut is 25.8% (before the PCE data was released, the probability was 26.0%, 50.0% and 24.0%, respectively). (Jinshi)