According to CME’s “Federal Reserve”: Federal Reserve, the probability of a 25-basis-point rate cut in January is 11.6%, while the probability of rates remaining unchanged is 88.4%.By March, the probability of a cumulative 25-basis-point rate cut stands at 40.3%, the probability of rates remaining unchanged is 55.4%, and the probability of a cumulative 50-basis-point rate cut is 4.3%.