The Federal Reserve is expected to maintain its current interest rates in June, with a 93.8% probability according to CME's "FedWatch" tool. The tool also indicates a 6.2% chance of a cumulative 25-basis-point rate cut by June. Looking ahead to July, the probability of rates remaining unchanged drops slightly to 88.8%, while the likelihood of a 25-basis-point cut increases to 10.8%. A 50-basis-point cut remains highly unlikely, with only a 0.3% probability.