Woofun AI data shows that following the latest CPI release, CME FedWatch metrics assign an 83.4% probability to the Federal Reserve holding interest rates steady in July. The likelihood of a cumulative 25-basis-point increase stands at 16.6%. For the September meeting, the probability of a rate hold is recorded at 40.3%, while a 25-basis-point hike carries a 51.1% chance and a 50-basis-point hike an 8.6% chance.