CME FedWatch sees 59.4% chance of 25 bp Fed rate hike in September

According to CME FedWatch, the Federal Reserve has a 40.6% chance of holding rates steady in September and a 59.4% chance of a 25-basis-point hike. By October, the probability of rates remaining unchanged stands at 29.8%, while the cumulative odds of a 25-basis-point increase are 54.4% and the cumulative odds of a 50-basis-point increase are 15.8%.