Tonight, prior to Powell's speech, the probability of a 25 basis point rate cut by the Fed in September decreased to 71.3%.

BlockBeats News, August 22nd, according to CME's "FedWatch" data, the probability of a 25 basis point rate cut by the Fed in September has dropped to 71.3% ahead of Powell's speech at the Jackson Hole Symposium tonight, while the probability of rates remaining unchanged is 28.7%.

The probability of the Fed keeping rates unchanged until October is 14.6%, the probability of a cumulative 25 basis point rate cut is 50.4%, and the probability of a cumulative 50 basis point rate cut is 35.1%.

The dates of the next two FOMC meetings by the Fed are September 17th and October 29th.