The Federal Reserve is set to announce its interest rate decision tonight, with a negligible 0.1% probability of a rate cut in June, according to CME's Fed Watch data. The overwhelming likelihood, at 99.9%, is that the Fed will keep interest rates unchanged. Looking ahead to July, the data indicates an 85.5% chance that the Fed will maintain current interest rates, while there is a 14.5% probability of a cumulative 25 basis point rate cut. The decision comes as markets closely monitor the Fed's stance on monetary policy amid ongoing economic assessments.