Fed rate cut probability continues to climb to 39.9% in May ahead of non-farm payrolls data

According to CME's ‘Fed Watch’ data, the probability of the Federal Reserve keeping interest rates unchanged in May was 60.1%, and the probability of a 25 basis point cut was 39.9%. The probability that the Fed will keep rates unchanged through June is 0. The probability of a cumulative 25 basis point rate cut is 53.2%, and the probability of a cumulative 50 basis point rate cut is 42.2%.