Woofun AI data shows that CME FedWatch currently prices in a 66.3% probability of the Federal Reserve maintaining interest rates unchanged in July, leaving a 33.7% chance for a cumulative 25 basis point increase.

For September, the likelihood of holding rates steady drops to 31%, while the probability of a cumulative 25 basis point hike stands at 51.1%, with an 18% chance of a 50 basis point increase.