Before the PCE data was released, the probability of the Federal Reserve cutting interest rates by 25 basis points in November was 50.1%.

Before the PCE data was released, according to CME's "Fed Watch" data, the probability of the Fed cutting interest rates by 25 basis points by November was 50.1%, and the probability of cutting interest rates by 50 basis points was 49.9%. The probability of a cumulative interest rate cut of 50 basis points by December was 26.0%, the probability of a cumulative interest rate cut of 75 basis points was 50.0%, and the probability of a cumulative interest rate cut of 100 basis points was 24.0%. (Jinshi)