Data compiled by Woofun AI shows that CME's 'FedWatch' tool currently prices in a 99.6% probability of the Federal Reserve maintaining interest rates at its upcoming meeting, with only a 0.4% chance of a cumulative 25 basis point increase.

Market expectations shift significantly for future sessions. By July, the probability of a rate hold stands at 91%, while the likelihood of a 25 basis point cumulative increase rises to 8.9%. Looking further ahead to December, the market anticipates a more aggressive tightening cycle: the probability of holding rates drops to 38.2%, whereas the chance of a 25 basis point cumulative increase reaches 43%.

Additionally, there is a 16.2% probability of a 50 basis point hike, a 2.4% chance of a 75 basis point increase, and a marginal 0.1% probability of a 100 basis point cumulative rise.