The probability of a Federal Reserve rate hike this year has dropped to 57%

According to CME "FedWatch": There is a 98.5% probability that the Federal Reserve will keep interest rates unchanged in June, and a 1.5% probability of an accumulated rate cut of 25 basis points. By July, there is a 91.3% probability of maintaining rates unchanged, a 7.4% probability of an accumulated rate hike of 25 basis points, and a 1.4% probability of a cumulative rate cut of 25 basis points. By December, there is a 42.1% probability of keeping rates unchanged, a 57.3% probability of at least a 25 basis points rate hike, and a 0.6% probability of a 25 basis points cut.