The probability of a Federal Reserve rate hike within the year has risen to 83.1%

According to CME "Federal Reserve Watch": There is a 44.1% probability that the Federal Reserve will keep rates unchanged by October, a 44.3% probability of raising rates by at least 25 basis points, and an 11.6% probability of cutting rates by 25 basis points. By December, the probability of keeping rates unchanged is 15.5%, the probability of at least a 25 basis point hike is 83.1% (compared to 59.4% the previous day), and the probability of a 25 basis point cut is 1.4%.