Woofun AI data shows that the CME FedWatch tool currently prices in a 77% probability for the Federal Reserve to maintain interest rates unchanged in July. Conversely, there is a 23% chance of a cumulative 25 basis point rate hike during that month.

Looking ahead to September, the market assigns a 41.9% probability to rates remaining steady. The likelihood of a cumulative 25 basis point increase stands at 47.6%, while a 50 basis point hike carries a 10.5% probability.