According to ChainCatcher, CME Fed Observation data shows that:

The probability of the Fed keeping interest rates unchanged in August is 93.3%, and the probability of a 25 basis point rate cut is 6.7%.

The probability of the Fed keeping interest rates unchanged by September is 0%, the probability of a cumulative 25 basis point rate cut is 89.6%, the probability of a cumulative 50 basis point rate cut is 10.2%, and the probability of a cumulative 75 basis point rate cut is 0.3%.