Fed Rate Hike Probability for September Stands at 60.2%

According to the CME FedWatch Tool, the probability of the Federal Reserve maintaining current interest rates in September is 39.8%, while the probability of a cumulative 25 basis point hike is 60.2%. For October, the probability of holding rates steady is 28.3%, with a 54.3% chance of a 25 basis point hike and a 17.3% chance of a 50 basis point hike.