Probability of 50 bps Fed rate cut in September rises after Powell's speech

According to the CME “Fed Watch”: the probability that the Fed will cut interest rates by 25 basis points in September is 67.5%, and the probability of a 50 basis point cut is 32.5%. The probability that the Fed will cut rates by 50 basis points in November is 43%, the probability of a cumulative rate cut of 75 basis points is 45.2%, and the probability of a cumulative rate cut of 100 basis points is 11.8%.