CME Fed Watch: 87.3% probability of keeping rates unchanged in May, 60.8% probability of a cumulative 25 bps rate cut in June

CME Fed Watch data showed that the probability of the Fed keeping rates unchanged in May was 87.3%, and the cumulative probability of a 25 basis point rate cut was 12.7%. The probability of the Fed keeping rates unchanged through June is 31.0%, the probability of a cumulative 25 basis point cut is 60.8%, and the probability of a cumulative 50 basis point cut is 8.2%.