The probability that the Fed will cut 25 bps by November is 86.8%, the probability of keeping current rates unchanged is 13.2%, and the probability of cutting rates by 50 bps is 0%. The probability of keeping current rates unchanged through December is 3.5%, the probability of a cumulative 25 basis point cut is 32.9%, the probability of a cumulative 50 basis point cut is 63.6%, and the probability of a cumulative 75 basis point cut is 0%.